In a landmark move that underscores the growing consumer desire to support Canadian brands, Mountain Equipment Company (MEC) has announced its acquisition by a Canadian-led group of private investors. The new ownership, spearheaded by Canadian retail veteran Tim Gu, brings MEC back under domestic control for the first time since its 2020 sale to US-based Kingswood Capital Management.
“MEC represents the best of Canadian spirit—adventure, resilience, and community,” said Gu, who also chairs Unisync Corp. and has invested in Canadian staples like Roots and Tilley. “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.”
Gu’s ownership group includes key MEC executives, CEO Peter Hlynsky and Chief Merchandising Officer Chris Speyer, in what amounts to a partial management buyout. Both leaders are longtime MEC members with deep experience in the outdoor retail sector. “There has never been a better time to celebrate being Canadian,” Hlynsky said. “MEC being back in Canadian hands means we are more committed than ever to equip Canadians for all trails ahead.”
The new owners bring a vision that includes reshoring some elements of manufacturing back to Canada, a move aligned with MEC’s legacy of local connection and quality craftsmanship. Gu’s Toronto-based manufacturing firm, E.star International Inc., exemplifies this mission by supporting Canadian jobs and promoting “Made in Canada” production.
This change could revitalize MEC’s iconic in-house product line and strengthen its community-driven values. With 24 stores nationwide and over 6 million members, MEC has long been more than just a retailer—it’s a hub for outdoor enthusiasts. MEC stores also host outdoorsy events, from rock climbing presentations to avalanche training, bringing like-minded adventurers together.
Kingswood, which acquired MEC during a tumultuous period in 2020, expressed confidence in the transition. “Turning it over to Tim and his team makes sense at this juncture,” said Kingswood Managing Partner Alex Wolf. “[It] positions MEC to grow its presence across Canada.”
As the company steps into this new chapter with a Canadian compass once again guiding its path, the move is being welcomed as a homecoming—and a signal of renewed focus on authenticity, innovation and community.
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