Rexel has agreed to acquire GCG from Audax Private Equity, expanding its specialty wire and cable distribution capabilities across data centers, power infrastructure, defense and other mission-critical markets. Financial terms of the transaction were not disclosed.
The acquisition is expected to close by the end of 2026, subject to customary requirements.
GCG operates through two business segments, Custom Engineered Solutions and Connectivity & Power Solutions.
The company provides engineered wire, cable, and connectivity solutions across data centers, power infrastructure, defense, building systems, water, telecommunications, and industrial markets.
Since 2019, GCG has grown to more than $1.1 billion in revenue through organic expansion and acquisitions.
Transactions completed during that period include United Wire & Cable, CableMaster, RWL, Paige and Allied Wire & Cable.
Chicago-based GCG operates through 16 locations in North America and Europe and employs more than 950 people.
Rexel expects the acquisition to increase its exposure to fast-growing and mission-critical markets, particularly data center and power infrastructure.Rexel will integrate
GCG’s engineering-led distribution capabilities and proprietary products into its broader energy management distribution platform.
Audax acquired GCG through the carve-out of Genuine Parts Company’s Electrical Specialties Group and subsequently worked with management on organic growth and multiple add-on acquisitions.
Solomon Partners and J.P. Morgan advised GCG and Audax, while Kirkland & Ellis and Fredrikson & Byron served as legal advisers.
Guggenheim Securities and Rothschild & Co advised Rexel, and Sidley Austin served as legal counsel.
KEY QUOTES:
“This is an exciting milestone for GCG and a testament to the strength of our business, our culture, and, most importantly, our people. 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.”
Glenn Pennycook, Chief Executive Officer of GCG