General Electric to Sell LED Business to American Industrial Partners
November 06 2018 - 08:09AM
Dow Jones News
By Thomas Gryta and Dana Mattioli
General Electric Co. said it agreed to sell its Current lighting
division to private-equity firm American Industrial Partners for an
undisclosed amount, as the conglomerate continues to separate from
a business that is central to its historical roots.
The Current business, which sells LED lighting for commercial
use, had about $1 billion in sales in 2017.
General Electric is still trying to sell the rest of its
consumer-lighting business, which includes lightbulbs, according to
people familiar with the matter.
American Industrial Partners is a middle-market private-equity
firm. The firm currently has investments in bulk freight shipping
company Rand Logistics, Vertex Aerospace and Gerber Technology.
(More to come.)
Write to Thomas Gryta at thomas.gryta@wsj.com and Dana Mattioli
at dana.mattioli@wsj.com
(END) Dow Jones Newswires
November 06, 2018 07:54 ET (12:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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