Canadian investment firm Onex Corp. is buying a majority stake in Oregon-based Jeld-Wen, which owns Silver Mountain Resort in North Idaho.
Orex, based in Toronto, is spending $675 million for its majority shares of Jeld-Wen, based in Klamath Falls, The Oregonian reported.
Of the total Onex is said to be investing $475 million in cash for a 39 percent stake. It will also issue a $189 million note convertible to additional stock.
Silver Mountain Resort in Kellogg includes a ski operation, nine-hole golf course, condos and indoor waterpark.
Jeld-Wen last winter sold three central Oregon resorts to a partnership led by Northview Hotel Group of Westport, Conn. The properties were Eagle Crest near Redmond, Brasada Ranch in Powell Butte near Bend, and the Running Y in Klamath Falls. Also sold was Ridgewater Properties, adjacent to the