Sidley advised General Electric Co. (GE) in connection with its agreement to sell its intelligent environments unit, Current, powered by GE (Current), to American Industrial Partners, a New York-based private equity firm. Current is a leading provider of energy efficiency and productivity solutions with customers including Walmart, JPMorgan Chase and General Motors, as well as San Diego and Jacksonville. As part of the deal, Current would maintain use of the GE brand under a licensing agreement. The transaction is expected to close in early 2019, subject to customary closing conditions and regulatory approvals.
The Sidley team was led by partner Sara Garcia Duran (Dallas) and associate Jonathan Blackburn (Chicago), and included associate Jessica Day (Chicago).