OnPoint Group completed the sale of its power business, Concentric LLC, to Mitsubishi Heavy Industries Ltd (MHI) to better focus efforts on critical facility services.
“I am thrilled for the Concentric team – power is an evolving space and MHI is the perfect home to leverage the value Concentric has built creating a national footprint in forklift and critical power while supporting expansion into the data center market and other new power areas. We look forward to continuing to service our joint customers. I am also excited to enable our teams to invest their time and efforts on our core customers’ needs connected to critical facility services. This step forward supports that mission as we hone-in on what our partners need most from OnPoint Group when it comes to critical services,” adds Tom Cox, CEO of OnPoint Group.
From BusinessWire:
- The divestiture reflects OnPoint Group’s long-standing commitment to providing distributors, retailers and other commercial properties with critical facility services.
- This sale allows OnPoint to better focus on its core strategy based in servicing facility needs through the group’s companies Miner, TrueSource and TFS.
