Rexel to Acquire GCG, a Leading Specialty Wire & Cable Distribution Platform

CHICAGO, Sept. 25, 2026 /PRNewswire/ -- GCG, a leading specialty wire & cable distribution platform delivering value-added solutions for critical applications, announced today that Rexel, a publicly held distributor of products and services in energy management, is acquiring GCG from Audax Private Equity ("Audax") in a transaction expected to close by year end.

GCG operates through two complementary segments — Custom Engineered Solutions ("CES") and Connectivity & Power Solutions ("CPS") — delivering engineer-led, value-added wire, cable and connectivity solutions to customers across data centers, power infrastructure, defense, building systems, water, telecom and industrial end markets. Since 2019, GCG has grown to more than $1.1 billion in revenue, expanding through a combination of organic growth and strategic acquisitions, including United Wire & Cable, CableMaster, RWL, Paige, and Allied Wire & Cable.

"This is an exciting milestone for GCG and a testament to the strength of our business, our culture, and, most importantly, our people," said Glenn Pennycook, Chief Executive Officer of GCG. "With the support of Audax, we've built a differentiated business with strong technical capabilities, deep customer and supplier relationships, and a track record of growth. We believe Rexel's strategic focus and commitment to customers and suppliers make them the right partner to continue that momentum, while creating new opportunities for our associates, customers, and supplier partners."

The combination is expected to extend Rexel's presence in high-growth, mission-critical end markets, including data center and power infrastructure, and to bring GCG's engineering-led, value-added distribution model and proprietary product portfolio into Rexel's broader platform.

Audax Private Equity first acquired GCG through a carveout of Genuine Parts Company's Electrical Specialties Group and helped put in place and partner with GCG's management team to build the platform through organic growth initiatives and a disciplined acquisition strategy, completing multiple add-on acquisitions.

Solomon Partners and J.P. Morgan served as financial advisors to GCG and Audax on the sale, while Kirkland & Ellis and Fredrikson & Byron provided legal counsel. Guggenheim Securities and Rothschild & Company served as financial advisors to Rexel and Sidley Austin LLP served as legal advisor.

About GCG

GCG is a leading specialty wire & cable distribution platform delivering value-added solutions for critical applications across a diverse set of end markets, including data centers, power, building systems, water, telecom, defense and infrastructure. Headquartered in Chicago, Illinois, GCG operates with its local brands in North America and Europe through 16 locations with 950+ employees and is expected to reach over $1.1 billion of revenue in 2026. For more information, visit www.gogcg.com.

About Rexel group

Rexel, a worldwide expert in the multichannel professional distribution of products and services for the energy world, addresses three main markets: residential, non-residential, and industrial. The Group supports its customers by providing a tailored and scalable range of products and services in energy management for construction, renovation, production, and maintenance. Rexel operates through a network of 1,876 branches in 17 countries, with 26,306 employees. The Group's sales were €19.4 billion in 2025.

About Audax Private Equity

Headquartered in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity is a leading private equity platform focused on investing across the North American middle market. Audax's leading objective is to accelerate value creation through our Buy & Build strategy and the Audax Value Agenda™, a holistic framework that seeks to enable, create, and protect value across every stage of the investment lifecycle. As of July 2026, Audax Private Equity had approximately $20.1 billion of assets under management and, since inception in 1999, has invested in more than 180 platforms and more than 1,500 add-on acquisitions. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

Forward-Looking Statements: This release may contain forward-looking statements regarding the proposed transaction, including its expected timing and completion. These statements are subject to risks and uncertainties, including the receipt of required regulatory approvals and the satisfaction of other customary closing conditions, and actual results may differ materially.

Contact:
Kelly Fitzgerald, Breakaway Communications for GCG
[email protected]
+1 917 731 5734

SOURCE GCG