On 7 October 2024, Current announced plans to close Forum, a company it acquired in 2021. This consolidation will take place over the next twelve months, depending on the outcome of decision bargaining with the local union.
The announcement includes some confusing details. It mentions the goal of “consolidating production within a twelve-month period” while also stating an “intent to phase out Forum products, transitioning select product lines and future business to Litecontrol.” This implies that some products will end, while others will shift to different operations. It would have been clearer if they had announced they were phasing out some products.
Current plans to move select products to Lite control and its manufacturing facility in Plympton, Massachusetts. The company aims to simplify its operations and improve service to its agents. During the thirty-day bargaining process, Current will continue to support Forum’s existing business, ensuring customers experience no changes in service.
Current acquired Forum in April 2021. At that time, then-CEO Manish Bhandari discussed the significance of the acquisition in a video interview with your humble editor. He emphasized Forum’s role in supporting architects and designers and the value of custom products. Forum has built a strong reputation for quality and has contributed to many landmark projects. By combining Forum’s strengths with its own, Current expects to drive innovation and growth.
A major reason for Current’s acquisition was Forum’s highly customizable products, which were expected to boost Current’s standing with lighting designers.
As the decision bargaining process unfolds, Current anticipates finalizing its plans by 12 November 2024.
Read the announcement below:
