Concentric, LLC, the North American Leader in Power Management Solutions for Material Handling, Data Center and Utility Customers is acquired by Japanese Engineering MNC, Mitsubishi Heavy Industries Limited (MHIL). Both companies signed the agreement to Purchase 100% of Concentric stake.
MHIL, one of the largest industrial conglomerates in the world and a pioneer in the clean energy sector, today announced the purchase of Concentric, LLC (Concentric), a leading North American supplier of industrial power solutions. MHI and OnPoint Group have a contract in place for MHI to purchase all of Concentric’s unclaimed membership interests for an unknown sum.
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 centers to logistics and manufacturing factories must be able to maintain sustainable, uninterruptible power in order to remain competitive in the 21st century.”
Concentric, which was established in 2000 and has its corporate headquarters in Carrolton, Texas, is the only full-lifecycle power solution provider with a genuinely nationwide reach. GuaranteedPOWER ® and PerpetualPOWER ®, two of the company’s trademarked products, have a demonstrated track record of delivering value to a loyal base of blue-chip customers. Concentric offers cutting-edge essential power systems for data centres, telecommunications, utilities, and commercial buildings, as well as motive power solutions for electric forklifts, automated guided vehicles, and airline ground service equipment. Concentric is driven by its technician-focused culture.
“We have spent the last 20 years developing no-interruption power and equipment services for material handling and critical power customers across North America,” stated John Winter, Chief Operating Officer at Concentric.