AIP acquires Current from GE
In early November, General Electric entered into a preliminary agreement to sell its Current luminaire.
business (LED lighting for commercial offices and industrial premises) to American Industrial Partners (AIP), a private equity company from New York.
Current would like to continue to use the GE brand; this should be agreed with a license agreement. The North American consumer lighting business (such as halogen lamps, fluorescent tubes, bulbs, etc.) is not part of the planned sale to AIP. GE wants to sell this section separately.
The transaction is expected to close early next year, subject to customary regulatory approvals.