Rexel To Acquire GCG From Audax Private Equity

Rexel has entered an agreement to acquire GCG, a specialty wire and cable distribution company held by Audax Private Equity, in a transaction targeting closing by year-end 2026. The acquisition marks Audax's exit from GCG, which the firm originally obtained through a carve-out of Genuine Parts Company's Electrical Specialties Group in 2019. While transaction terms were not disclosed, the deal positions Rexel to significantly expand its capabilities in engineered distribution and mission-critical infrastructure markets.

GCG has achieved substantial scale under Audax's ownership, reaching over $1.1 billion in revenue through a combination of organic expansion and strategic add-on acquisitions. The company completed five acquisitions during this period—United Wire & Cable, CableMaster, RWL, Paige, and Allied Wire & Cable—building a consolidated platform with 16 locations across North America and Europe employing more than 950 people. The company operates through two segments: Custom Engineered Solutions and Connectivity & Power Solutions, serving end-markets including data centers, power infrastructure, defense, building systems, water, telecommunications, and industrial sectors.

For Rexel, the acquisition represents a strategic lever to capture exposure to fast-growing and resilient end-markets, particularly the accelerating data center and power infrastructure build-out. Rexel intends to integrate GCG's engineering-led distribution capabilities and proprietary products into its broader energy management distribution platform, leveraging GCG's technical expertise and market positioning. Solomon Partners and J.P. Morgan served as financial advisers to GCG and Audax, with Kirkland & Ellis and Fredrikson & Byron providing legal counsel. Rexel was advised by Guggenheim Securities and Rothschild & Co, with Sidley Austin as legal counsel.