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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