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TOKYO, July 7, 2023 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI), one of the world's foremost industrial groups leading the way in clean energy, today announced the acquisition of Concentric, LLC (Concentric), a top provider of industrial power solutions in North America. MHI has signed an agreement with OnPoint Group to acquire all outstanding membership interests of Concentric for an undisclosed consideration.
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."
Founded in 2000 and headquartered in Carrolton, Texas, Concentric is the only full-lifecycle power solution provider with a truly national footprint. The company's trademark offerings such as GuaranteedPOWER and PerpetualPOWER - have a proven track record in providing value, to a long-term blue-chip client base. Guided by its technician-focused culture, Concentric provides innovative critical power systems for data centers, telecommunications, utilities, and commercial facilities, as well as 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 center market. We have a shared vision to build the most advanced, clean and efficient power solutions."
About Mitsubishi Heavy Industries Group
Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world.
For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
About Concentric
Concentric is the national leader in DC power management and maintenance for the material handling and critical power industries. The company's signature solution, GuaranteedPOWER - is an industry-first, enabling leading facilities from manufacturers, distributors to data centers to improve safety and consistency through a fixed cost program delivering 30% average total cost savings. Concentric partners with both facility and corporate teams, helping them find a better way to manage consistency across the nation as they design, integrate and operate their forklift power, maintenance, energy storage and critical power solutions. Learn more at concentricusa.com.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Topic: Press release summary
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Energy, Alternatives, Alternative Energy
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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