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
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

Category Company
Founded 1884
Sector Machinery
Employees77,697
Revenue 4.20T JPY (2023)
DESCRIPTION
Mitsubishi Heavy Industries' corporate headquarters in Tokyo, Japan.
Mitsubishi Heavy Industries' corporate headquarters in Tokyo, Japan.

Mitsubishi Heavy Industries is a 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. Mitsubishi Heavy Industries was founded in 1884 and is based in Tokyo, Japan.


DEAL STATS #
Overall 4 of 5
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 3 of 3
State (Texas) 1 of 1
Country (United States) 2 of 3
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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 Koloma

Denver, Colorado, United States

Koloma is a geologic hydrogen company that leverages its technology, proprietary data, and human capital advantages to identify and commercialize geologic hydrogen on a global scale. The company actively engaged in exploration and appraisal of assets that will play a significant role in global decarbonization efforts. Koloma is based in Denver, Colorado.

Buy -

Seller(S) 1

SELLER

OnPoint Group

Perrysburg, Ohio, United States

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 2
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 TFS

Perrysburg, Ohio, United States

TFS optimizes material handling equipment fleets by providing turnkey fleet management services for Fortune 1000 companies and large manufacturing & distribution companies throughout North America. The company's analysts utilize a centralized, streamlined fleet management model to consistently generate significant improvements and cost savings across the full life cycle of the fleets they manage. TFS is based in Perrysburg, Ohio.

Sell -