MEC announces new Canadian ownership
At a time when consumer focus on Canadian brands is at an all-time high, Mountain Equipment Company (MEC) announces that it has been acquired by a Canadian-led ownership group.
VANCOUVER, BC, May 16, 2025 /CNW/ - 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.
This transaction shifts MEC's ownership to a group of Canadian investors with domain expertise, a deep belief in MEC's purpose and a long-term vision for the business.
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.
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 Tim 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 MEC members, making this a partial management buyout. This underscores how much MEC's leadership believes in the future of the company.
"There has never been a better time to celebrate being Canadian" says 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".
Says Alex Wolf, Managing Partner at Kingswood Capital Management, "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 will retain a minority interest in MEC.
The sale has been in the works for months, and the timing aligns perfectly with the interests of Canadian consumers.
ABOUT
MEC 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. MEC's purpose is to equip Canadians for a lifetime outdoors. Our team of gear specialists and experienced adventurers offer trusted advice, ensuring members get the right equipment for every adventure. With 24 stores and over 6 million members nationwide, MEC is more than a retailer—it's a community for outdoor enthusiasts.
Tim Gu is currently Chairman of Unisync Corp. (TSX: UNI), a publicly traded Canadian uniform and workwear company. Tim is also 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.
Kingswood Capital Management, LP partners with leading companies in the middle market which stand to benefit from its capital and extensive operating resources. Kingswood embraces complexity and believes it is well-positioned to support businesses at inflection points in their development to enhance value. Based in Los Angeles, Kingswood is a cohesive, entrepreneurial team with a long history of shared success developing "win-win" partnerships with its portfolio companies and management teams. For more information, please visit the Kingswood website at www.kingswood-capital.com.
QUICK FACTS.
- Founded in 1971 - MEC is a 50-year-old Canadian legacy organization
- Kingswood Capital Management purchased MEC in 2020
- Peter Hlynsky appointed CEO October 2023 – has been significant member of executive team at MEC since Nov 2020 (CFO & COO)
- Recent hire of Chris Speyer from REI Co-op where he spent the last seven years with US outdoor retailer serving as its Vice President, Vice President of Merchandising, and finally Chief Merchant of Co-op Brands. Chris has over three decades of leadership experience in the specialty outdoor retail, wholesale, and direct-to-consumer (DTC) businesses.
- MEC has 24 standalone retail stores - Whitby was most recent opening in July 2024
- MEC has approx. 2000 employees across Canada
- MEC's new, majority ownership is led by Tim Gu in partnership with MEC CEO Peter Hlynsky and other supporting investors.
SOURCE Mountain Equipment Company
Press Contact: [email protected]
Share this article