Rexel to Acquire GCG, Strengthening Data Center and Power Infrastructure Offerings
Key Highlights
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Rexel has agreed to acquire specialty wire and cable distributor GCG from Audax Private Equity, with the transaction expected to close by year end.
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GCG has grown to more than $1.1 billion in revenue since 2019 through organic growth and strategic acquisitions.
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The acquisition is expected to strengthen Rexel’s presence in data centers, power infrastructure, defense, telecom, building systems, water and industrial markets.
GCG, a specialty wire and cable distribution platform providing value-added solutions for critical applications, announced that Rexel, a publicly traded distributor of products and services for energy management, has agreed to acquire GCG from Audax Private Equity. The transaction is expected to close by the end of the year.
GCG operates through two segments: Custom Engineered Solutions (CES) and Connectivity & Power Solutions (CPS). The company provides engineered wire, cable and connectivity solutions to customers 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 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, CEO 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 acquisition is expected to expand Rexel’s presence in data center and power infrastructure markets, while adding GCG’s engineering-led distribution model and proprietary product portfolio to Rexel’s broader platform.
Audax Private Equity initially acquired GCG through a carve-out of Genuine Parts Company’s Electrical Specialties Group. Following the acquisition, Audax partnered with GCG’s management team to develop the business through organic growth initiatives and a targeted acquisition strategy, completing multiple add-on acquisitions.
Source: GCG
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