M&A Deal Summary

Mitsubishi Heavy Industries Acquires Concentric

On October 3, 2023, Mitsubishi Heavy Industries acquired electrical equipment company Concentric from OnPoint Group

Acquisition Highlights
  • This is Mitsubishi Heavy Industries’ 1st transaction in the Electrical Equipment sector.
  • This is Mitsubishi Heavy Industries’ 2nd transaction in the United States.
  • This is Mitsubishi Heavy Industries’ 1st transaction in Texas.

M&A Deal Summary

Date 2023-10-03
Target Concentric
Sector Electrical Equipment
Buyer(s) Mitsubishi Heavy Industries
Sellers(s) OnPoint Group
Deal Type Divestiture

Target

Concentric

Carrollton, Texas, United States
website
Concentric is a DC power management and on-site maintenance for the material handling and critical power industries. Concentric was founded in 2000 and is based in Carrollton, Texas.

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Buyer(S) 1

Buyer

Mitsubishi Heavy Industries

Tokyo, Japan

website


Category Company
Founded 1884
Sector Machinery
Employees79,974
Revenue 3,860.3B JPY (2022)
DESCRIPTION
Mitsubishi Heavy Industries' corporate headquarters in Tokyo, Japan.
Mitsubishi Heavy Industries' corporate headquarters in Tokyo, Japan.

Mitsubishi Heavy Industries (MHI) is a Japanese conglomerate with a strong presence in various industries. With a focus on engineering and manufacturing, MHI operates across sectors such as aerospace, defense, energy, machinery, and transportation. The Company is known for its expertise in developing and producing a wide range of products, including aircraft, ships, power generation equipment, industrial machinery, and more. Mitsubishi Heavy Industries was founded in 1884 and is based in Tokyo.


DEAL STATS #
Overall 4 of 4
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 3 of 3
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-05 Mitsubishi Heavy Industries Machine Tool

Shiga, Japan

Mitsubishi Heavy Industries Machine Tool is involved in designing, manufacturing, selling and consulting services associated with machine tools, cutting tools, and other related products. Mitsubishi Heavy Industries Machine Tool was formed in 2015 and is based in Shiga, Japan.

Sell -

Seller(S) 1

SELLER

OnPoint Group

Perrysburg, Ohio, United States

website


Category Company
Founded 2001
Sector Business Services
DESCRIPTION

OnPoint Group is a North American provider of management and maintenance services for doors, docks, material handling and warehouse accessories through its industry leading divisions: TFS, Miner, TrueSource, and Concentric. Based in Perrysburg, OH, OnPoint Group has more than 600 technicians in over 80 locations to consistently deliver efficiency, safety and productivity to customers responsible for maintaining multifacility operations.


DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 Curlin Material Handling Solutions

Tampa, Florida, United States

Curlin Material Handling Solutions is an integrator of material handling systems specialty in integration of complex receiving, storage, process conveyor, sortation and loading dock systems. Curlin Material Handling Solutions was founded in 1940 and is based in Tampa, Florida.

Buy -