Private Equity Firm Completes Purchase of Current, a Division of GE
Under the licensing agreement, Current will continue to use the "GE" name for its products and services.
Boston-based GE announced that New York City-based private equity firm American Industrial Partners has completed its acquisition of LED manufacturer Current, powered by GE.
Under a long-term licensing agreement, Current will continue using the GE brand on its products and services.
Current’s portfolio spans LED and traditional lighting solutions, along with a wide variety of intelligent controls, sensors and software.
“Three and a half years ago, we formed Current as a new kind of startup within the walls of GE, and today we are thrilled to celebrate the successful conclusion of that journey as we prepare to embrace our next,” says Maryrose Sylvester, president and CEO of Current. “American Industrial Partners is an excellent fit for our people and technology. Current has an important role to play in this emerging industry, and we look forward to working with our customers to continue building the future of digital lighting innovation.”
The consumer lighting business of GE Lighting is not included as part of the transaction, and financial terms were not disclosed.
