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 

 

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National ManufacturingExcellence in Manufacturing Consortium EMC’s Advantage through Excellence: Future of Manufacturing Conference is a 2½ day event exploring the competitive advantages, opportunities and successes that can be achieved by manufacturers through a variety of learning forums — up to 40 workshops, panel sessions, keynote presentations and best practice plant tours — providing delegates with outstanding opportunities for benchmarking, peer networking, learning and sharing of hundreds of best practices. An estimated 500 to 900 manufacturing leaders and stakeholders from across Canada are expected to attend. 

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Rick McCartenBy Rick McCarten

I think it was Bill Gates who said the Internet will not have an effect on society short term, but will have a profound effect on us long term. 

Long term versus short term fascinates me. Making the call for one over the other can determine the success (or failure) of companies today. 

Using Bill Gates’ long-term Internet effect example, means that business decisions about the Internet will not necessarily show short-term gain, but will show “profound” gain in the long term.

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CEW 3 Perspective 400

We often learn how to look forward by first looking back, or at the very least we realize that despite our best efforts we have not truly advanced quite so much as we had thought. Sure, technology is rapidly advancing. That’s beyond question. But what about our approach to selling it? Have we changed that much in the last 20, 40, 60 years? Inevitably there have been advances and changes in marketing, the Internet causing the biggest shift, but many of the concerns and directives that have driven the distribution and marketing of industrial electrical products remain, or at least planted the roots of the concerns of manufacturers and distributors today. 

To gain perspective of the perceptions and directions of electrical product distribution in 1960, we turn to Edwin H. Lewis. In 1960 Lewis published “The Distribution of Industrial Electrical Products” in the Journal of Marketing.

To fully define electrical product distribution in 1960, Lewis broke his study into several categories. We will follow his direction and provide his insights on the industry in each of the categories he identified.

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