Northern Lights Hearth & Sports – Farmington

Josh and Alicia in front of their Northern Lights StoreJosh & Alicia had worked for the previous owner of Northern Lights Hearth & Sports for more than a decade before they were approached about the possibility of stepping into an ownership position. Josh & Alicia were familiar with the business and were strongly positioned to take over the responsibilities of ownership but had never thought about the logistics of an acquisition. To understand the different stages of the transfer and develop a reasonable debt structure for their “new” business, they turned to the Maine SBDC at Androscoggin Valley Council of Governments. Working alongside Business Advisor Raynor Large, they tweaked their business plan, developed a set of financial projections, understood and negotiated their purchase structure, and closed on the deal. 

Josh, Alicia, and their team were able to successfully transition Northern Lights Hearth & Sports to be under their leadership, where they have continued to succeed and grow even amidst the current pandemic. Located at 639 Wilton Road in Farmington, customers have the opportunity to purchase a wide variety of skis, bikes, and wood stoves.  

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