Rexel /
GCG
Glenn Pennycook took GCG from a Genuine Parts carveout to more than $1.1 billion in sales.
What happened
Audax just sold it to Rexel for about $1.4 billion. [01]
Audax Private Equity signed a definitive agreement to sell GCG to Rexel for about $1.4 billion enterprise value, Rexel said Sept. 25, 2026. Close targeted by year-end. GCG CEO Glenn Pennycook, who joined from EIS in 2025, stays to lead under Rexel. [01]
GCG is the Chicago specialty wire and cable platform into data centers, power, and defense. Audax owned it since 2019 and completed 12 add-ons. [01]
Who is involved, and the source
The images posted with the deal. Everything on this page comes from the @carrywatch post below.
Glenn Pennycook took GCG from a Genuine Parts carveout to more than $1.1 billion in sales.
This post is the source for the companies, stage, figure and people on this page.
Open the post on XWhere the deal stands
Deal Web
Every firm and person on this deal, and how they connect. Open any name to see their other deals.
Deal Web as a list
- Rexel (Buyer) buyer this deal. Rexel: 1 deal on Carrywatch.
- GCG (Target) target this deal. GCG: 1 deal on Carrywatch.
- Audax Private Equity (Seller) seller this deal. Audax Private Equity: 1 deal on Carrywatch.
- Glenn Pennycook (CEO, GCG) named in post this deal. Glenn Pennycook: named in 1 post on Carrywatch.
Glenn Pennycook
CEO, GCG