GE 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. Financial details were not disclosed.
Current’s portfolio spans LED and traditional lighting solutions, along with a variety of intelligent controls, sensors and software. The business helps to deliver energy savings and operational productivity for its customers, which include commercial offices, retail stores, industrial facilities and cities. Under a long-term licensing agreement, Current will continue using the GE brand on its products and services moving forward.
The consumer lighting business of GE Lighting is not included as part of the transaction.