Mountain Equipment Company (MEC), Canada’s iconic outdoor retailer, is officially back in Canadian hands following its acquisition by a group of Canadians. The new ownership group is led by Toronto-based entrepreneur Tim Gu, marking a new chapter in MEC’s more than 50-year history.
The change in ownership comes at a time when Canadian consumers want homegrown brands. The investor group includes Gu as well as MEC’s CEO Peter Hlynsky and Chief Merchandising Officer Chris Speyer, both longtime members of the MEC community. The transaction represents a partial management buyout, reinforcing the leadership team’s deep belief in the future of the company.
“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.”
Gu brings with him extensive experience in Canadian retail and manufacturing. He is currently Chairman of Unisync Corp., and also operates E.star International Inc, a Toronto-based apparel manufacturing firm founded in 1999. His investments include other iconic Canadian brands such as Tilley and Roots.
The ownership transition will support efforts to reshore some of MEC’s product manufacturing to Canada — a move that aligns closely with the company’s legacy of quality, sustainability, and community focus.
“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.”
MEC has been a staple of Canada’s outdoor retail scene since its founding in 1971. With 24 stores and approximately 2,000 employees across the country, it serves more than six million members nationwide. Known for its community-focused approach and knowledgeable staff, MEC continues to play a central role in supporting Canadians’ outdoor adventures.
The previous majority owner, U.S.-based Kingswood Capital Management, will retain a minority stake in MEC. “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,” said Alex Wolf, Managing Partner at Kingswood.
The sale has been months in the making and reflects a renewed focus on strengthening Canadian businesses for the long term.
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