Overview

• Mountain Equipment Company (MEC) has been acquired by a Canadian investor group led by textile executive Tim Gu, marking its return to Canadian ownership after five years under U.S. management.
• The investor group includes MEC's current CEO Peter Hlynsky and Chief Merchandising Officer Chris Speyer, ensuring leadership continuity during the transition.
• The new ownership plans to reshore more manufacturing to Canada, aiming to enhance product quality and reinforce the brand's authenticity.
• Kingswood Capital Management, the U.S. firm that acquired MEC in 2020, will retain a minority stake as a limited partner under the new deal.
• This acquisition follows years of financial struggles for MEC, including declining sales since 2023 and significant debt as of mid-2024.