Chicago – September 25, 2026 -- Rexel is acquiring specialty wire and cable distributor GCG from Audax Private Equity in a deal expected to close by year end, the companies announced.
GCG has grown to over $1.1 billion in revenue since Audax's 2019 acquisition
GCG, headquartered in Chicago, operates through two segments -- Custom Engineered Solutions (CES) and Connectivity & Power Solutions (CPS) -- serving data centers, power infrastructure, defense, building systems, water, telecom and industrial end markets. The company runs 16 locations across North America and Europe with more than 950 employees and is projected to exceed $1.1 billion in revenue in 2026.
Audax built the platform through five add-on acquisitions
Audax first acquired GCG via a carveout of Genuine Parts Company's Electrical Specialties Group and subsequently expanded it through both organic growth and strategic acquisitions, including United Wire & Cable, CableMaster, RWL, Paige, and Allied Wire & Cable.
Rexel gains an engineering-led distribution model for data center and power markets
The transaction is expected to extend Rexel's footprint in high-growth, mission-critical end markets, bringing GCG's engineering-led, value-added distribution model and proprietary product portfolio into Rexel's broader multichannel platform. Rexel operates 1,876 branches across 17 countries with 26,306 employees and reported sales of €19.4 billion in 2025.
GCG Chief Executive Officer Glenn Pennycook said the deal reflects the strength of the business built with Audax's support, adding that Rexel's strategic focus and commitment to customers and suppliers make it the right partner to continue GCG's growth momentum.
Multiple advisory firms structured the transaction
Solomon Partners and J.P. Morgan served as financial advisors to GCG and Audax on the sale, with Kirkland & Ellis and Fredrikson & Byron providing legal counsel. Guggenheim Securities and Rothschild & Company advised Rexel financially, while Sidley Austin LLP served as Rexel's legal advisor. As of July 2026, Audax Private Equity managed approximately $20.1 billion in assets and has invested in more than 180 platforms and 1,500 add-on acquisitions since its 1999 founding.