CONCORD, N.H. – A Coos County paper mill, which has been closed for more than two months, has a new owner.

On Thursday, Fraser Papers completed the sale of its mill in Gorham to a subsidiary of Counsel R.B. Capital. The mill employed about 240 people.

Counsel R.B. Capital won court approval earlier this month to acquire the mill for $2.7 million after two other deals fell through.

Normand Frechette of Milan, a third-generation mill employee who started work in 1971, said he was ecstatic and had never given up hope of returning.

“It’s a new company, you have no idea what the rules are going to be,” the 61-year-old Frechette said Friday. “But hey, I’ve got a few good years left, and I’m here to work.”

R.B. Capital Vice President Gregory Schain has said the firm needs to find an operating partner to run the mill. He said he hopes to see it running again by late spring.

“We are very happy about the closing and look forward to the opportunity to try and bring the mill back to life,” Schain said.

The county has lost a number of jobs over the years, most recently the closing of paper mills in Groveton and Berlin and the Ethan Allen furniture plant across the line in Vermont.