Saturday, September 26, 2026
The Daily Buyout
6 deals
A quiet Friday still delivered: a French distributor reached across the Atlantic for a billion-dollar cable platform, a California bank failed and found a new home before Monday, and an activist floated $11 a share for a dog-toy brand. Here's the deal flow.
Top deal of the day
Rexel buys cable distributor GCG from Audax Private Equity
~$1.4BreportedPrivate equity buyout·Industrials & Manufacturing
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.
2
$605M depositsStrategic acquisition·Financial Services·Completed
Sunwest Bank takes over failed Nano Banc in FDIC-assisted deal
California regulators closed Irvine-based Nano Banc on September 25 and the FDIC handed the franchise to Sunwest Bank, which assumed roughly $605 million of deposits and $227 million of loans. Customers keep immediate access to their money, and branches reopen under the Sunwest name on Monday. It is the sixth FDIC-assisted acquisition for Sunwest, a privately held bank with more than $5 billion in assets.
3
$11/share offerMinority stake·Consumer & Retail·Rumored
GNK floats $11-a-share cash tender offer for BARK
GNK Holdings, an existing BARK shareholder, said it is evaluating a cash tender offer for shares of the pet products company at $11.00 apiece, and is asking fellow holders to submit non-binding indications of interest by October 9. GNK, which previously proposed acquiring BARK outright, cited frustration with the pace of shareholder value creation and wants a larger stake to influence strategy.
4
~$300MreportedSPAC·Energy & Utilities·Completed
GOWell closes SPAC merger, will trade on Nasdaq as GOW
Well-logging technology provider GOWell Technology completed its business combination with Inflection Point Acquisition Corp. V, with shares of the renamed GOWell Energy Technology set to begin trading on Nasdaq on September 28. A $50 million closing PIPE of preferred shares and warrants, added to a $20 million private placement funded at signing in October 2025, brought gross proceeds to $70 million for growth and working capital.
5
UndisclosedStrategic acquisition·Business Services·Completed
Epiq acquires breach-response software maker Canopy
Legal services provider Epiq has acquired Canopy, a data breach response technology company whose patented platform identifies exposed sensitive data and affected individuals. Canopy's engineers and cyber specialists join Epiq, with former COO Adi Elliott becoming VP of product management for cyber, and the platform will be folded into the Epiq AI suite. Terms were not disclosed.
6
~$220MreportedStrategic acquisition·Real Estate·Completed
Crescent sells The Hotel at Avalon after a 2020 pandemic-era bet
Crescent Real Estate has sold The Hotel at Avalon, a 330-room luxury hotel anchoring the Avalon mixed-use development in Alpharetta, Georgia. Crescent bought the property in September 2020 when few investors were willing to underwrite hospitality, and executives said the exit validated that thesis. The firm called it one of the most notable hotel transactions in the Atlanta market in recent years; the price and buyer were not disclosed.