The Globe and Mail reports in its Wednesday, April 23, edition that Ontario textile manufacturing executive and real estate investor Tim Gu is poised to acquire Mountain Equipment after a months long search for investment to revive the business. The Globe's Susan Krashinsky Robertson writes that unnamed sources say MEC has reached a deal to sell a majority interest to Mr. Gu. Mr. Gu is principal owner of real estate investment firm Smart Investment and president of textile manufacturer E. Star International. Mr. Gu told The Globe on Monday that he could not comment in detail until formal approvals are in place. "We can confirm it's a Canadian buying group," MEC spokesman Jo Salamon said on Monday. The Globe reported in January that MEC was up for sale a second time and had fallen behind on payments to its vendors. The manufacturer Mr. Gu leads, E. Star, has factories both in Canada and overseas that produce apparel and hosiery, according to the company's website, which lists Canada Goose, Canadian Tire and Walmart among its clients. As part of the deal, MEC chief executive officer Peter Hlynsky will invest in a minority interest in the company,