Group of private Canadian investors buys MEC

Four months after it announced it was for sale, Mountain Equipment Company (MEC) says it has been acquired by a Canadian-led investor group.

The group is being led by Tim Gu, who chairs Unisync — a Canadian uniform and workwear company.

Gu says the new ownership will allow the company to reinvest in domestic manufacturing.

“MEC represents the best of Canadian spirit — adventure, resilience, and community,” he said.

“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 investors include MEC CEO Peter Hlynsky and Chris Speyer, chief merchandising officer.

This is the second time in five years that MEC has switched hands. In 2020, L.A.-based company Kingswood Capital Management bought the company, which at the time was called Mountain Equipment Co-op. It had been Canada’s largest cooperative by membership, with more than 3.5 million members — most of whom were not active shoppers.

Kingswood Capital will retain a minority interest in the company.

MEC was founded in 1971.

— With files from Renee Bernard and Charlie Carey.