Kingswood Capital Management, LP announced that it has completed its acquisition of substantially all of MEC’s assets through the companies’ Creditors Arrangement Act. MEC is Canada’s largest outdoor chain with 21 stores.
The acquisition creates a path forward for MEC to strengthen the brand, retain jobs, and enables the company to continue to be an outdoor supplier for Canadians, according to a statement. MEC will be managed from its headquarters in Vancouver by CEO Eric Claus.
“We are passionate about MEC,” said Claus. “We see a very bright future for the company and that’s why we chose to keep 21 of MEC’s 22 stores open and hire over 85 percent of the active staff. We believe we can make MEC better than ever while remaining true to its values and ideals by investing in the store and online experiences and focusing on delivering outstanding gear and advice to MEC’s passionate customers.”
Configure Partners, Fasken Martineau DuMoulin, Goodwin Procter, Houlihan Lokey, and Jones Lang LaSalle advised Kingswood on the transaction.
Kingswood Capital Management is a California-based private-equity firm.
Photo courtesy MEC
