Audax Private Equity Sells GCG to Rexel in $1.1B+ Deal — Audax Private Equity

Event summary

Audax Private Equity has agreed to sell GCG, a specialty wire and cable provider, to Rexel for an undisclosed amount, with GCG's 2026 revenues exceeding $1.1 billion.
Audax acquired GCG in 2019 as a carveout from Genuine Parts Co. and subsequently spun it out as an independent platform.
Under Audax's ownership, GCG completed 12 acquisitions and sold its Automation & Factory Solutions business in July 2026.
The sale marks Audax's seventh realization in 2026, following recent exits of Flow Control Holdings, StatLab Medical Products, and others.
Rexel, a publicly traded energy management distributor, operates 1,876 branches across 17 countries with €19.4 billion in 2025 sales.

The big picture

Audax's exit from GCG underscores the private equity firm's focus on the industrial distribution sector and its ability to execute a Buy & Build strategy. The sale to Rexel, a larger player in energy management, suggests a trend toward consolidation in the specialty wire and cable market. With $20.1 billion in assets under management as of July 2026, Audax continues to demonstrate its capacity to drive durable growth through targeted investments and strategic exits.

What we're watching

Integration Strategy: How Rexel will integrate GCG's operations and whether it can leverage GCG's specialty wire and cable expertise to enhance its energy management distribution capabilities.
Buy & Build Success: The pace at which Audax can replicate GCG's growth strategy in other portfolio companies, given its track record of 12 acquisitions under GCG's ownership.
Market Consolidation: Whether this deal signals further consolidation in the industrial distribution sector, particularly among specialty wire and cable providers.