[TITLE>Rexel to Acquire U.S. Specialty Wire and Cable Provider GCG in $1.4 Billion Deal
French electrical products distributor Rexel SA has agreed to acquire U.S.-based specialty wire and cable provider GCG from Audax Private Equity in a transaction that values the business at approximately $1.4 billion.
Headquartered in Chicago, Illinois, GCG specializes in supplying specialty wire and cable, connectivity, power, and engineered solutions for critical infrastructure applications. The company operates 16 locations and employs around 950 people, with projected revenue exceeding $1.1 billion in 2026.
According to Rexel, this acquisition will strengthen its presence in the North American market and expand its exposure to specialized, high-value infrastructure segments.
To fund the transaction, the company plans to utilize a combination of existing cash resources and approximately 800 million euros in debt financing.
Rexel also intends to raise up to 500 million euros through an accelerated bookbuilding equity offering, a strategic move aimed at preserving its credit rating and maintaining a net financial debt-to-EBITDAaL ratio of around 2x from 2027 onward.
The acquisition is expected to close by the end of 2026, subject to customary regulatory approvals and other closing conditions.
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