Deal Details

Concentric Is Acquired By MHI

Technology & Services

Concentric, a division of OnPoint and portfolio company of Harvest, sale to MHI

Summary

Concentric, LLC (“Concentric” or the “Company”), a division of OnPoint Group (“OnPoint”) and portfolio company of Harvest Partners (“Harvest”), recently announced its sale to Mitsubishi Heavy Industries, Ltd. (“MHI”). The transaction is subject to various regulatory approvals and customary closing conditions. The terms of the transaction have not been disclosed.

Baird served as the lead financial advisor to Concentric on this transaction.

About

Concentric is the national leader in DC power management and maintenance for the material handling and critical power industries. The Company’s signature solution, GuaranteedPOWER® is an industry-first, enabling leading facilities from manufacturers to distributors. Concentric partners with both facility and corporate teams, helping them find a better way to manage consistency across the nation as they design, integrate and operate their forklift power, maintenance, energy storage and critical power solutions.

OnPoint Group is the only national brand independent service and equipment provider supporting manufacturers, retailers and distributors for all of their material handling and facility maintenance needs. Divisions include Miner, TrueSource and TFS, specializing in forklift fleet management, forklift power, docks, doors and other critical facility maintenance needs. Headquartered in Perrysburg, Ohio, OnPoint Group’s more than 2,500 industry professionals and 40,000 service affiliates support system-wide improvements, total cost control, safety, productivity and risk mitigation through custom engineered solutions and data-driven decisions.

Harvest Partners is an established private equity firm focused on leveraged buyout and growth capital investments in middle market industrial, business services, consumer, healthcare and software companies. Harvest combines its comprehensive and disciplined investment approach with its experienced and cohesive management team expertise to build exceptional businesses and generate superior returns. Since its founding in 1981, Harvest Private Equity has completed over 55 platform transactions and has over $15B in AUM. Harvest is headquartered in New York, New York and has offices in California and Florida.

Mitsubishi Heavy Industries Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI 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. MHI is headquartered in Tokyo, Japan and is a publicly traded company under the Tokyo Stock Exchange.

Technology & Services

Concentric, a division of OnPoint and portfolio company of Harvest, sale to MHI