Mitsubishi Heavy to Buy US Firm to Expand Data Center Business

Japanese manufacturing giant Mitsubishi Heavy Industries Ltd. agreed to acquire a US-based data-center service provider, as part of its plan to expand its business and help decarbonize electricity-guzzling facilities.

(Bloomberg) — Japanese manufacturing giant Mitsubishi Heavy Industries Ltd. agreed to acquire a US-based data-center service provider, as part of its plan to expand its business and help decarbonize electricity-guzzling facilities.

MHI will buy Texas-based Concentric LLC from OnPoint Group, according to a statement Friday, which didn’t disclose terms of the acquisition. Concentric provides power systems and maintenance for industrial facilities and data centers.

The deal comes amid a push by the Japanese company, which makes equipment including turbines for thermal power plants, to explore opportunities amid the decarbonization trend. MHI wants to decarbonize data centers with cleaner electricity generation and more efficient cooling systems, and is targeting 100 billion yen ($695 million) in revenue from the sector in fiscal 2030.

Mitsubishi Heavy wants to eventually become a one-stop shop to provide equipment and maintenance needed to operate data centers, said Hitoshi Kaguchi, senior executive vice president.

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