GE: sells energy efficiency business to private equity firm
(CercleFinance.com) - GE has agreed to sell its energy management business to New York-based private equity firm American Industrial Partners, the US conglomerate said on Tuesday.
The company said it has signed a proposed agreement to sell its "Current, powered by GE" unit, which provides energy efficiency and digital solutions for commercial offices, retail stores, industrial facilities and cities.
Current's technology portfolio includes LED and traditional lighting solutions, plus connected sensors, controls and software.
The deal is expected to close in early 2019. Its financial terms were not disclosed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company said it has signed a proposed agreement to sell its "Current, powered by GE" unit, which provides energy efficiency and digital solutions for commercial offices, retail stores, industrial facilities and cities.
Current's technology portfolio includes LED and traditional lighting solutions, plus connected sensors, controls and software.
The deal is expected to close in early 2019. Its financial terms were not disclosed.
Copyright (c) 2018 CercleFinance.com. All rights reserved.