MHVYF - MHI Completes Acquisition of Concentric LLC

TOKYO, Oct 3, 2023 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) completed the acquisition of 100% of Concentric, LLC, a top provider of industrial power solutions in North America, from OnPoint Group on October 2.

Concentric will take steps under its new ownership as a member of the MHI Group to promote zero emissions, energy conservation and electrification with the aim of improving the service provided to customers of its North American data centers, logistics warehouses and industrial facilities. It will also utilize the cutting-edge technology and knowledge gained through its partnership with MHI to provide sustainable power solutions.

As the world transitions to digital technology, demand for data centers is growing, and the industry is grappling with the issue of how to adopt zero emission power sources and conserve energy. MHI Group aims to solve this issue by providing total energy solutions that offer data centers a one-stop service encompassing power systems, cooling systems, and control and monitoring.

Concentric's maintenance and service functions will be key to ensuring efficiency and sustainability throughout the whole system and adapting quickly to changes in customers' needs. MHI is confident that forming an alliance with a company that has a customer network spanning the entirety of North America will be a major step toward energy optimization in data centers and logistics warehouses, leading to a reduction in CO2 emissions.

As a member of MHI Group, Concentric will meet customers' expectations to an even higher level and strengthen its response to social and environmental issues. Together, MHI and Concentric will utilize their respective technologies and know-how to provide cutting-edge solutions for customers not only in North America but around the world.

About Concentric

Founded in 2000 and headquartered in Carrolton, Texas, Concentric is a full-lifecycle power system solutions provider with bases across North America. The company's signature solutions, GuaranteedPOWER and PerpetualPOWER are industry firsts, 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. For details, see 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.

Source: Mitsubishi Heavy Industries, Ltd.

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