SAM Magazine—Jackson, N.H., March 12, 2026—Indy Pass director and Entabeni Systems CEO Erik Mogensen has bought out early investors to take full ownership of Black Mountain in New Hampshire, in a significant shift from his original plan to sell ownership shares to individuals and create a board of trustees to operate the ski area.
Mogensen led the acquisition of the ski area through the Indy Pass in October 2024 and has served as its acting general manager for much of the time since then.
“My goal has always been to keep skiing more independent, affordable, and sustainable,” Mogensen told SAM. “Taking a crack at a new ownership model through the Black Mountain comeback project has been extremely worthwhile. The model is solid, was well funded, and will be used again. This pivot is about addressing some of the core underlying issues [impacting independent ski areas] that need to be solved regardless of any ownership structure.”
As part of the transition, the headquarters of Entabeni Systems and Indy Pass will relocate from Colorado to New Hampshire, where Black Mountain will serve as the base of operations for the companies. “We will turn one of oldest ski areas in the country into a safe space to tackle the biggest problems independent operators are facing,” said Mogensen.
“Black Mountain almost disappeared,” he added, referencing the previous owner’s plan to close the ski area. “The last year showed how much this place matters to people. We are going to build on that energy and ensure this mountain not only survives but helps the entire independent ski industry thrive.”
Mogensen expects the move to bring more than 30 new jobs—including roles in software and hardware development, finance, marketing, and management—to the Mount Washington Valley.
“New Hampshire is the best place to ski in America and a beacon of economic opportunity,” New Hampshire Gov. Kelly Ayotte said in a statement. “It’s exciting to have Indy Pass and Entabeni Systems relocate to the Mount Washington Valley with the goal of making Black Mountain a hub for innovation in the ski industry.”
Black Mountain will function as what Mogensen called an “independent mountain laboratory,” where his team will “try and solve challenges facing independent areas” including aging lift infrastructure, technology, mechanical systems and operational strategies that could be shared with other ski areas.
Mogensen plans to appoint a veteran ski industry executive to run day-to-day operations of the ski area in the coming months.
The assumption of full ownership is an about-face from when Black Mountain was first acquired by Indy Pass in October 2024, at which time Mogensen said the plan was “to turn it into an impactful community-run co-op.” He touted it as “a sustainable model” that could be emulated by other ski areas. “There are dozens of small ski areas across the country struggling to stay afloat, and we believe this financial model is a viable option for many,” he said at the time.
As reported by Andy Bigford in “Under New Ownership” (SAM, January 2026), Mogensen unveiled his new planned ownership model in early November 2025, describing a three-class system:
When the transition is completed in the spring, Black will offer three classes of ownership. The 15 Class A members will invest $250,000 each; 100 supporters will join in with B Class shares at $25,000; and 2,000 Class C $5,000 shares will be sold (the last is similar to the co-op model of Mad River Glen, Vt.). All 15 Class A investors will get a seat on the 21-member Board of Trustees; there will be four trustees from Class B, and two from Class C
The plan would have raised $16.25 million, with $7.5 million being returned to Mogensen and other initial investors and the rest going into a fund for future capital improvements.
The initial shareholders that invested in that previously-conceived ownership model unanimously voted to sell Black Mountain back to Mogensen on Monday, March 9, according to reporting in The Boston Globe.
Explore this news and more acquisitions on the SAM Ownership Timeline.
