Canadian Electrical Wholesaler

April 2, 2019

Logos for GE's Current and American Industrial Partners

GE has completed the sale of its Current, powered by GE business unit to American Industrial Partners (AIP), a New York-based private equity firm focused on buying, improving and growing industrial businesses. Financial details were not disclosed.

Current’s portfolio spans LED and traditional lighting solutions, along with a wide variety of intelligent controls, sensors and software. The business delivers energy savings and operational productivity for its customers, which include commercial offices, retail stores, industrial facilities and cities. Under a long-term licensing agreement, Current will continue using the GE brand on its products and services moving forward.

“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,” said Maryrose Sylvester, President & 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.

Current is the digital engine for intelligent environments. The company blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores, industrial facilities and cities more energy efficient and productive. Backed by a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments.

American Industrial Partners is a private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has been active in private equity investing since 1989. To date, AIP has completed over 95 transactions and currently has approximately US$7 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com 

 

LFI Innovation AwardsThe celebrated LFI Innovation Awards marked the opening this week of the 2019 Lightfair International Trade Show and Conference with a dramatic showcasing of the industry’s most innovative products and designs introduced during the last 12 months.

The 2019 awards and trade show opening mark the 30th anniversary of the world’s largest annual lighting and technology event. The 2019 awards saw entries spanning 14 categories, with each submission judged by an independent panel of lighting professionals. Winning entries exemplified the best in innovative design and thinking. 

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Automation LabourforceBy: Thomas Donato, Rockwell Automation

We all are consumers. We all have expectations of quality and service.

When I talk to our customers, I do so with that experience and mindset. If we don’t deliver – we lose. Maybe not immediately, but eventually. It’s as simple as that.

I just lived through a great example of this. Every morning I use our blender. One of the parts broke, and the manufacturer made it quite difficult and cumbersome to get a replacement.

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OmnicableOmniCable was founded in 1977 by partners with deep experience in the US electrical marketplace. With their clear understanding of the industry, they were able to identify an opportunity for the founding of a unique company. At the time, there was a disconnect between electrical distributors and electrical wire and cable manufacturers due to a growing demand that needed to be fulfilled under strict timelines.

The nature of the industry required a wide range of product types and configurations on a “just-in-time” basis. As a result, distributors were unable to stock enough cable products to meet the demands of their customers. 

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BritechBritech Corp, one of Canadas largest heating cable companies has signed a formal agreement with Heat Trace Limited, of Cheshire, England. Heat Trace, founded in England in 1974, Heat Trace is one of the world’s leading industrial heat trace cable manufacturers.

The company is known mainly for innovative solutions in self-regulating high temperature heat tracing cables up to 275°C, their exclusive high temperature, 425°C, cut to length, industrial, in the field replacement for mineral insulated cables, and their high temperature Long Line heating cables that can be installed on pipes in one length up to 10 kilometers long.

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