Mitsubishi Heavy Industries to acquire Concentric from OnPoint Group.

Mitsubishi Heavy Industries, an industrial group, agreed to acquire Concentric, a provider of industrial power solutions, from OnPoint Group, an independent service and equipment provider supporting manufacturers, retailers and distributors for all of their material handling and facility maintenance needs. Financial terms were not disclosed. "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," Hitoshi Kaguchi, MHI Senior Executive Vice President.