Mitsubishi Heavy Industries has acquired Concentric, the North American Leader in power management solutions for material handling, data centre and utility customers. MHI has entered into an agreement with OnPoint Group to acquire all the outstanding membership interests of Concentric, with the exact terms of the deal undisclosed.
The deal comes amid a push by the Japanese company, which makes equipment including turbines for thermal power plants, to explore opportunities amid the decarbonisation trend.
Dr. Hitoshi Kaguchi, Senior Executive Vice President at MHI said: “We are delighted to add Concentric to our growing portfolio for Smart Infrastructure Solutions. Combining MHI’s technology capabilities with an experienced national service provider immediately benefits facilities across North America, and provides us with a platform to serve the globe. All facilities from data centres to logistics and manufacturing factories must be able to maintain sustainable, uninterruptible power in order to remain competitive in the 21st century.”
Concentric, founded in 2000 and headquartered in Carrolton, Texas, stands out as the sole comprehensive power solution provider with a truly nationwide presence. The company’s renowned offerings, such as GuaranteedPOWER and PerpetualPOWER, have consistently delivered value to a diverse and long-term client base. Guided by a culture that places emphasis on technicians, Concentric specialises in delivering innovative critical power systems for data centres, telecommunications, utilities, and commercial facilities. They also provide motive power solutions for electric forklifts, automated guided vehicles, and airline ground support equipment.
John Winter, Chief Operating Officer at Concentric said: “We have spent the last two decades building no-interruption power and equipment services for material handling and critical power customers across North America. Joining the MHI group accelerates Concentric’s mission to bring sustainable, proactive power systems and maintenance to facility leaders nationwide. Our forklift power customers have been converging towards energy storage for years. MHI’s capabilities, including their cooling technologies and zero emission power generation systems, ensure our team is ready to serve their needs and achieve growth across the data centre market. We have a shared vision to build the most advanced, clean and efficient power solutions.”