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, says the retailer.
This transaction shifts MEC’s ownership to a Canadian group with domain expertise, a deep belief in MEC’s purpose and a long-term vision for the business, it said.
“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. (TSX: UNI), 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 — values that closely align with MEC’s heritage and mission,” said MEC in a statement.
“Partnering with Tim strengthens MEC’s ability to reinvest in domestic manufacturing and enhance the authenticity, quality, and innovation of the MEC Label product line.
“MEC represents the best of Canadian spirit — adventure, resilience, and community,” said 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 Chief Executive
Officer, Peter Hlynsky, as well as Chief Merchandising Officer Chris Speyer, both longtime
members, making this a partial management buyout. This underscores how much the leadership believes in the future of the company, it said.
“There has never been a better time to celebrate being Canadian” said 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.”
“Kingswood is pleased with the investments we’ve made in the business over the past four
years and the resulting growth in MEC’s brand offerings and private label,” said Alex Wolf,
Managing Partner of Kingswood Capital Management. “Turning it over to Tim and his team
makes sense at this juncture and positions MEC to grow its presence across Canada.”
The company has been Canada’s leading outdoor specialty retailer since 1971, built on a legacy of expert staff, community connection, and a passion for the outdoors. Its purpose is to equip Canadians for a lifetime outdoors.
With 24 stores and over 6 million members nationwide, the brand is more than a retailer—it’s a community for outdoor enthusiasts.Whitby was most recent opening in July 2024.
It was founded in 1971. Mountain Equipment Co-op filed for court protection from creditors and was acquired by Kingswood Capital Management in 2020, which ended the brand’s 49-year history as a co-operative.
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I wasn’t aware that MEC had any members after it emerged from bankruptcy and lost its coop status?