Sale Of GE's Smart Energy Business, Current, To American Industrial Partners Closes
April 2, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
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GE today announced it has completed the sale of its Current, powered by GE business unit to American Industrial Partners (AIP), a New York-based private equity firm focused on buying, improving and growing industrial businesses. Financial details were not disclosed.
Under a long-term licensing agreement, Current will continue using the GE brand on its products and services moving forward.
Current’s portfolio spans LED and traditional lighting solutions, along with a wide variety of intelligent controls, sensors and software. The company blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores, industrial facilities and cities more energy efficient & productive. The business delivers energy savings and operational productivity for its customers, which include commercial offices, retail stores, industrial facilities and cities.
The consumer lighting business of GE Lighting is not included as part of the transaction.