Vancouver, BC-based Mountain Equipment Company (MEC) has been acquired by a group of private Canadian investors with deep industry experience and a vision of reshoring some manufacturing to Canada.
The new investor group is led by Tim Gu, who brings a deep background in Canadian retail, manufacturing, and investment. Tim is Chairman of Unisync Corp., a publicly traded Canadian uniform and workwear company, as well as an investor in Canadian heritage brands including Tilley and Roots. He founded and operates E.star International Inc, a Toronto-based apparel manufacturing facility established in 1999, which supports Canadian jobs and champions “Made in Canada” production.
Partnering with Tim strengthens MEC’s ability to reinvest in domestic manufacturing, says the company, and “enhances the authenticity, quality, and innovation of the MEC Label product line.”
“MEC represents the best of Canadian spirit: adventure, resilience, and community,” says Gu. “As a lifelong believer in Canadian manufacturing and innovation, I’m proud to join MEC’s journey. Together, we’ll strengthen its foundation, expand its reach, and ensure that MEC remains an essential part of Canada’s outdoor culture for generations to come.”
Other Canadian investors joining Gu in the ownership group include MEC’s CEO Peter Hlynsky, as well as Chief Merchandising Officer Chris Speyer, both longtime MEC members, making this a partial management buyout.
“There has never been a better time to celebrate being Canadian,” adds Hlynsky. “Today marks the beginning of MEC’s next chapter, grounded in the values that built MEC from the start. We will continue to evolve and innovate in order to stay relevant to the next generation of outdoor enthusiasts, and we will remain true to what sets MEC apart: expert staff who live and breathe the outdoors, stores that are anchors for outdoor communities and an unwavering commitment to providing the best assortment of outdoor gear found anywhere. MEC being back in Canadian hands means we are more committed than ever to equip Canadians for all trails ahead.”
Alex Wolf, Managing Partner at Kingswood Capital Management, continues: “Kingswood has been pleased with the investments we made in the business in the past four years. Now that it’s in a good place, we’re happy to see control move to new ownership and grow MEC’s presence across Canada.”
Kingswood, which purchased MEC in 2020, will retain a minority interest in MEC. The sale has been in the works for months.
MEC is an outdoor specialty retailer that has been in Canada since 1971. The retailer has 24 stores and over six million members nationwide and serves as a community for outdoor enthusiasts. The most recent store opened in Whitby in July 2024. The company employs about 2,000 people across Canada. Among its product offerings is a health selection of tech, including smartwatches and fitness trackers, GPS navigation devices, bike computers, solar and portable power, electronics cases, and more.