Mainebiz

V O L . X X V I I N O. V I I I A P R I L 1 9 , 2 0 2 1 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Employee-owned Mainely Tubs expands in New Hampshire B y J e s s i c a H a l l Scarborough — Mainely Tubs, a employee-owned hot tub and spa dealer, has opened its third location and broadened its presence in New Hampshire with a new store in Bedford. The Scarborough-based company made its first move into New Hampshire with a showroom in Rye in 2018 when its manufacturer, Watkins Wellness, gave it a new territory. The success of that location brought about another new territory in Bedford, where Mainely Tubs can draw from south- ern, central New Hampshire markets such as Manchester, Nashua and Concord, says Jared Levin, president and CEO of Mainely Tubs. The Bedford store is at 1 S. River Road. "We're moving slowly, step-by-step, expanding into new markets," Levin says. Levin said the company, founded in 1978, is open to other new locations if the opportunity arises. Its flagship store in Scarborough services territories up to two hours away in Maine. "We're an employee-owned company, which is terrific for our culture. We have a mandate to grow the company for our employees. That could take the form of additional showrooms at some point," Levin says. In 2016, longtime owner Jim Van Fleet set up an Employee Stock Ownership Plan, or ESOP, as part of his retirement. Now Mainely Tubs is 100% employee owned. Levin says the New Hampshire market has a similar cus- tomer base seeking a supplier that will be able to provide long-term service to the hot tubs, which can last 15 to 20 years when well-maintained. Mainely Tubs says their products can be used year round, even in unpre- dictable northern New England weather. Levin says the pandemic forced many people to stay home more and as a result, Mainely Tubs has been busy and growing. "This year has been incredibly busy for us," Levin says. "I think for many, the stress of COVID and having to spend more time at home, has people wanting to create that backyard oasis for themselves. Our products provide that healing ben- efit and quality time that our customers have been craving." The new 6,600-square-foot showroom features 30 hot tubs, as well as a 15-foot swim spa and a variety of indoor and outdoor saunas. "Many of our customers create these dream landscapes and rooms where they put their hot tub or sauna and we're always excited to help them find local talent to create these spaces," says Diana Locke, chief operating officer of Mainely Tubs. "We look forward to forging partnerships with local contractors, electricians and designers and to meeting our new neighbors." Saddleback to get CEI financing CEI Capital Management LLC has announced $1.49 million in Maine New Markets Capital Investment Tax Credit financing to support the ongoing revital- ization of Saddleback Mountain Ski Resort. e tax credit invest- ment will be managed by Arctaris Impact Investors, and continue redevelopment of the resort expected to add 200 part- and full- time jobs and boost the economy of the Rangeley area. Boston-based Arctaris bought the ski area last year after it had been closed for five years. e resort reopened in December with a new chair lift and other updates. Arctaris and its partners have invested $26 mil- lion in the resort, but a significant financing gap remained, potentially halting the momentum of redevel- opment, CEI said. Brickman to retire from CMH Jeffrey L. Brickman, who led Central Maine Healthcare out of a major financial crisis, announced he will retire in September after five years as president and CEO of the Lewiston-based health care system. Steven G. Littleson, senior vice president of operations and president of Central Maine Medical Center, will become interim president on July 19, the board announced. Littleson will fill the position during the search for a new president and CEO, and Brickman, who is 65, will continue as an advisor to the board and Littleson. Do your employees take pride in what you do? Find out. F O R I N F O R M AT I O N A N D TO A P P LY G O TO B E S T P L AC E S TO W O R K M E. C O M A N E M P L O Y E E E N G A G E M E N T P R O G R A M D E A D L I N E: M AY 28 Premier Sponsor: Brought to you by: B R I E F Mainely Tubs' longtime owner Jim Van Fleet sold the company to his employees in 2016. He's now retired. F I L E P H O T O / T I M G R E E N WAY Longtime owner Jim Van Fleet set up an ESOP in 2016 before retiring. C E N T R A L & W E S T E R N

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