GREENWOOD – The Mount Abram ski resort in western Maine has been sold to two local investors.

Matt Hancock and Rob Lally, who own homes near the resort, purchased it from Josh and Susan Burns of Falmouth. Terms of the sale, which was announced Friday, were not made public.

Located near the much larger Sunday River ski area in Newry, Mount Abram is one of Maine’s smaller ski areas and changed hands three times in the 1990s.

Hancock and Lally decided to go in together on Mount Abram’s purchase after it was put on the market for $1.8 million earlier this year. The two partners say it’s important to keep the resort’s ownership in the state.

Hancock was a principal owner of Hancock Lumber and Hancock Land in Maine before selling his share to his brother Kevin in 2006.