Rexel buys cable distributor GCG from Audax Private Equity

France's Rexel has agreed to acquire GCG, a Chicago-based specialty wire, cable and connectivity distributor, from Audax Private Equity, with closing expected by year end. GCG runs 16 locations with about 950 employees and is expected to top $1.1 billion of revenue in 2026 at roughly an 11% EBITA margin. Terms were not disclosed. Solomon Partners and J.P. Morgan advised GCG and Audax; Guggenheim Securities and Rothschild advised Rexel.

Why it matters: More than 60% of GCG's revenue comes from data centers, grid modernization and defense, putting Rexel squarely in the path of the electrification and AI infrastructure build-out.