A spokesperson for GE Current, a Daintree company, said the $350 million cash acquisition of the C&I Lighting division of Hubbell Incorporated, is on track for early February, but he did caution that deals of this magnitude are often delayed.
The plans call to keep the two agency networks running independently. GE Current announced they were acquiring the C&I Lighting division of Hubbell Incorporated, on 27 OCT and I interviewed Manish Bhandari, GE Current CEO on the same day. At that interview Manish explained the importance of separate networks.
After the acquisition closes, GE Current will have major offices in the Cleveland area, Greenville, SC and Hendersonville, NC. Originally GE Current planned to move to Beachwood, OH, but according to an article in The Cleveland Jewish News, those plans are being reconsidered in light of Hubbell Lighting. The spokesman explained to me that the Beachwood location would require an extensive retrofit. Regardless of their location decision in Cleveland, they will still have access to the labs at NELA Park and to the Lighting Institute. Recently GE Current built a new Lighting Institute at their Hendersonville location.
Greenville, South Carolina is the present home to Hubbell Lighting. This 285,000 square foot building sits on 18 acres and was built in 2007. The Hubbell Lighting headquarters is of the most beautiful buildings in our industry. One of the many features of the building is Hubbell’s Lighting Solutions Center. In my interview with Manish, he discusses both training centers.
The spokesman also confirmed that various layoffs have occurred in December, which were due in part, to the continued impact of COVID-19 as well as supply chain issues.
Developing…