Mitsubishi Heavy Industries [MHI] has acquired Concentric, a top provider of industrial power solutions. MHI signed an agreement with OnPoint Group to acquire all outstanding memberships for an undisclosed amount.
The popularity of electric vehicles continue to trend upward in transportation and even in the manufacturing and supply industries, with this recent acquisition providing further evidence of a growing interest in electric forklifts. According to a release, Carrolton, Texas-based Concentric provides power systems for data centers, telecommunications, utilities and commercial facilities in North America, as well as motive power solutions for electric forklifts, automated guided vehicles and airline ground support equipment.
“We are delighted to add Concentric to our growing portfolio for smart infrastructure solutions," said MHI Senior Executive Vice President Hitoshi Kaguchi. "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 Chief Operating Officer John Winter said the company has spent the last two decades building "no-interruption power and equipment services" for materials 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.”