The transaction, which was formally disclosed in a company press release, represents a significant milestone for Rexel as the multinational distributor looks to bolster its revenue streams, expand its addressable market, and penetrate higher-value segments of the infrastructure value chain. According to corporate projections, the acquisition of GCG is expected to contribute as much as $1.1 billion in additional annual revenue to the new parent company upon completion.

Rexel, headquartered in France, has maintained an active mergers and acquisitions strategy over recent years, executing multiple targeted deals across both European and North American markets to strengthen its global footprint. The planned integration of GCG follows a robust seven-year period of aggressive expansion and strategic acquisitions by the specialty distributor itself. During that growth phase, GCG successfully integrated several prominent industry players into its portfolio, including United Wire & Cable, CableMaster, RWL, Paige, and Allied Wire & Cable, building a formidable presence in the North American specialty wire and cable sector.

Operating out of Chicago, GCG currently maintains a physical footprint comprising 16 distinct operational locations and employs approximately 950 dedicated team members. The company has built a strong reputation across the marketplace for its specialized technical capabilities and deep relationships with both customers and industrial suppliers.

Why Rexel is Acquiring GCG

The acquisition brings together two major players in the broader electrical and digital infrastructure ecosystem. For GCG, the transition to Rexel ownership marks the culmination of a successful growth period supported by private equity.

Glenn Pennycook, chief executive officer at GCG, characterized the transaction as an exciting milestone that reflects the underlying strength of the company’s operations, corporate culture, and workforce.

Reflecting on the journey leading up to this point, Pennycook credited Audax Private Equity for their instrumental backing in helping build a differentiated business model defined by strong technical capabilities, robust customer and supplier relationships, and a proven track record of sustainable growth. He expressed confidence that Rexel represents the ideal strategic partner to carry that operational momentum forward while unlocking fresh opportunities for GCG associates, clients, and commercial partners alike.

Under the terms of the announced agreement, Rexel will acquire GCG from Audax Private Equity with the transaction currently slated to officially close by the end of 2026, subject to customary regulatory approvals and closing conditions.

How Rexel Views GCG

Guillaume Texier, the chief executive officer at Rexel, described the multi-billion-dollar acquisition of GCG as a major, high-impact step forward in the execution of his company’s overarching long-term strategy.

To finance the substantial $1.4 billion transaction, Rexel has outlined a comprehensive financial plan. The company intends to fund the deal through a strategic combination of cash on hand and debt financing, which together will total approximately $909 million, or 800 million euros. In addition to the cash and debt components, Rexel announced its intention to raise as much as $568 million, equivalent to 500 million euros, through an equity offering to ensure a balanced capital structure for the acquisition.

Texier emphasized that the deal substantially enlarges Rexel’s addressable market while meaningfully strengthening its competitive positioning in key, fast-growing industry segments. By integrating GCG, Rexel effectively advances into higher-value portions of the infrastructure value chain, enabling the combined enterprise to deliver a more comprehensive product and service offering spanning both traditional electrical power and modern digital connectivity.

The Rexel CEO offered high praise for GCG’s workforce, highlighting the high quality and talent of its teams, as well as the strong reputation the company holds among its customer base, suppliers, and industry partners. Those human and relational assets, according to Texier, will serve as critical foundational elements as the two organizations work collaboratively to build a leading specialty infrastructure platform.

Furthermore, Texier categorized GCG as an exceptional corporate platform that successfully combines robust organic growth, an attractive profit margin profile, and highly differentiated technical capabilities. He noted that these attributes align perfectly with Rexel’s strategic roadmap, specifically supporting the goals outlined in the company’s Axelerate 28 growth initiative.

To navigate the complex transaction, both corporations have enlisted prominent financial and legal representation. Rexel has retained Guggenheim Securities and Rothschild & Co to act as its financial advisors on the deal, with Sidley Austin LLP serving as its legal counsel. On the other side of the negotiating table, GCG and Audax Private Equity are receiving financial advisory services from Solomon Partners and J.P. Morgan, while Kirkland & Ellis and Fredrikson & Byron are providing legal counsel.