Did Crescent Bank get bought out?
Current, the lighting and controls company, did not buy the entire Hubbell Corporation. However, in February 2022, Current completed the acquisition of Hubbell’s C&I (Commercial and Industrial) lighting business. This strategic acquisition allowed Current to significantly expand its product portfolio, engineering capabilities, and presence in the lighting market. By integrating Hubbell’s C&I lighting solutions, Current enhanced its ability to provide comprehensive, energy-efficient lighting and intelligent controls for commercial, industrial, and outdoor applications. Hubbell, on the other hand, chose to divest this segment as part of a broader corporate strategy to refocus its attention on its core electrical and utility solution businesses, which remain the primary drivers of its enterprise value.
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