What Concentric does

Concentric, LLC is a U.S. industrial power services company that designs, delivers, and maintains DC power and energy storage solutions for forklift fleets, data centers, utilities, communications, and manufacturing facilities. Founded in 1999 and headquartered in Carrollton, Texas, the company is a subsidiary of OnPoint Group and was acquired by Mitsubishi Heavy Industries in July 2023. Concentric reports a workforce of 501-1,000 employees and operates 60+ service locations across more than 40 states, positioning itself as the nation's largest forklift power provider with 25 years of operating history.

The company's product portfolio is organized around three pillars. Forklift Power centers on PowerHIVE™, an autonomous battery management system that standardizes batteries and executes two-minute, zero-operator battery swaps; GuaranteedPOWER®, a managed-service offering that converts battery capex to a predictable monthly opex with uptime guarantees; and ConcentricCare℠ for ongoing maintenance. Critical Power includes PerpetualPOWER® (fixed monthly critical power service), battery energy storage systems (BESS, typically 1-15 MW), microgrids, distributed energy resource (DER) management, and Virtual Power Plant enablement. On-Site Maintenance deploys dedicated technicians to customer facilities to service material handling equipment, ASRS, AGVs, conveyors, and Autostore systems. Underlying technology is brand-independent, allowing Concentric to specify across multiple battery and equipment vendors.

Concentric makes money primarily through multi-year managed-service subscriptions (GuaranteedPOWER, PerpetualPOWER, ConcentricCare), supplemented by hardware sales of batteries, chargers, BESS, and microgrid equipment, plus on-site professional services. Go-to-market is consultative and direct, organized into specialized sales teams for Forklift Power, Critical Power, Dedicated Maintenance, and Energy Storage Systems, serving Fortune 5000 enterprise customers across warehousing, data centers, utilities, telecom, and industrial verticals. Growth has been driven by a sustained M&A roll-up (eight acquisitions since 2021) layered on organic adoption of PowerHIVE and entry into energy storage.

Name

Concentric

Legal name

Concentric, LLC

Website

https://concentricusa.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Concentric, LLC is a U.S. industrial power services provider serving Fortune 5000 customers across warehousing, data centers, utilities, telecom, and manufacturing with DC forklift power, critical power, energy storage, and on-site maintenance solutions across 40+ states.

Ownership category

akta.pro rank

Product category

Industrial Power Solutions

NAICS

Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing (333924), Material Handling Equipment Manufacturing (33392), Electric Power Distribution (221122)

SIC

Industrial Trucks, Tractors, Trailors & Stackers (3537), Switchgear & Switchboard Apparatus (3613), General Industrial Machinery & Equipment (3560)

akta.pro primary industry

Forklifts & Industrial Trucks (IC & Electric) (IMAHABAA)

akta.pro secondary industries

Backup Power & Critical Power Systems (Generators/UPS) (IMAIABAJ), Industrial Control Cabinets & Power Distribution (Panels, Switchgear for Automation) (IMAHAHAK)

Keywords

• Forklift power systems
• Critical power solutions
• Battery energy storage
• Material handling maintenance
• Industrial DC power

Headquarters

HQ city

Findlay

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Power as a Service (GuaranteedPOWER®): Converted from capital expenditure to predictable monthly operating expense. Covers all aspects of battery management including equipment provisioning, installation, maintenance, service and uptime guarantee. Designed for multi-shift operations and facilities with temperature extremes.
2. Critical Power Service (PerpetualPOWER®): Fixed monthly payment covering assessment, design, configuration, and management of critical power systems. Includes planned maintenance and break/fix services.
3. Equipment Sales: Direct sale of batteries, chargers, and related equipment for forklifts and critical power applications. The company operates as brand-independent, allowing flexibility in equipment selection.
4. On-Site Maintenance Services: Dedicated technicians deployed directly in customer facilities for material handling equipment and automation maintenance, including ASRS, AGV, conveyors, and Autostore systems.
5. Energy Storage Solutions: Engineering, installation and maintenance of battery energy storage systems (BESS) and microgrids for utilities and industrial customers, typically in the 1-15MW range.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Concentric supplies DC Power Systems for electric forklifts, automated guided vehicles (AGVs), and airline ground support equipment, organized around three pillars: Forklift Power (battery systems, autonomous PowerHIVE™ battery changers, GuaranteedPOWER® power-as-a-service), Critical Power (PerpetualPOWER® service, battery energy storage systems of 1-15MW, microgrids, UPS and backup power for data centers/utilities/communications), and On-Site Maintenance (dedicated technicians for material handling equipment and automation systems including ASRS, AGV, conveyors, and Autostore). The company's managed service model converts customer capital expenditures into predictable monthly operating costs backed by uptime guarantees.

Product overview

Concentric offers a comprehensive portfolio of power and maintenance solutions organized around three core pillars: Forklift Power, Critical Power, and On-Site Maintenance. The Forklift Power division centers on PowerHIVE™ (autonomous battery management system), GuaranteedPOWER® (power-as-a-service model), and ConcentricCare℠. Critical Power includes PerpetualPOWER® (fixed-cost critical power service), battery energy storage systems (BESS) sized 1-15MW, microgrids, DER management, and VPP enablement. Maintenance services encompass material handling equipment maintenance and automation maintenance for ASRS, AGV, conveyors, and Autostore systems. Additional offerings include environmental/safety products (spill containment, OSHA-compliant safety equipment) and specialized services for data centers, utilities, communications, and industrial operations. The company operates on a 'power as a service' model, converting capital expenditures to predictable operating expenses with uptime guarantees.

Differentiator

Problem solved

Functional benefit

Brands

• PowerHIVE™: Autonomous forklift battery management system enabling two-minute battery reloads with zero operator handling of 3,000 lb. batteries
• GuaranteedPOWER®
• ConcentricCare℠
• PerpetualPOWER®
• PowerHIVE™

Products and services

• PowerHIVE™ Autonomous forklift battery management system that enables two-minute battery reloads with zero operator handling of 3,000 lb batteries, standardizing batteries and centralizing charging in a compact footprint. Designed for warehouses and distribution centers with multi-shift forklift fleets requiring zero interruption.
• GuaranteedPOWER® End-to-end forklift power solution converting capital expenditure into predictable monthly operating expense with uptime guarantee, including design, maintenance, and everyday management of the battery fleet. Suitable for multi-shift and high-velocity facilities, delivers ~30% cost reduction while maintaining uptime.
• ConcentricCare℠ Comprehensive maintenance and service program for forklift power systems covering planned maintenance, repair services, and proactive service for electric forklift battery systems.
• PerpetualPOWER® Critical power service providing assessment, design, installation, and maintenance of mission critical power systems at fixed monthly cost. Includes planned maintenance and break/fix services with claims of ~20% reduction in total cost of ownership.
• Battery Energy Storage Systems (BESS) Engineered, installed, and maintained energy storage systems typically sized 1-15MW for utilities and industrial customers, addressing energy security, utility interconnection upgrades, and EV charging installations.
• Microgrids Power management solutions that combine battery energy storage systems and renewables to enable grid-independent operation, managing power generation close to critical infrastructure.
• Critical Power UPS systems, backup generators, and preventative maintenance for data centers, healthcare, communications, and industrial operations with 24/7 reliability requirements.
• Forklift Battery Solutions Battery systems and chargers for electric forklifts including lead-acid, lithium-ion, and thin plate pure lead technologies from multiple manufacturers.
• Material Handling Maintenance On-site maintenance services with dedicated technicians deployed permanently in facilities, capturing every equipment touch for real-time analytics across material handling fleets.
• Automation Maintenance Predictive and preventive maintenance programs for complex automation equipment including ASRS (Automated Storage and Retrieval Systems), automatic guided vehicles (AGV), conveyors, and Autostore systems.
• Mission Critical & Data Center Power Power infrastructure services for data centers including critical power and cooling solutions for 24/7 reliability.
• Utilities Power Power solutions for utility customers including backup power and energy storage, typically 1-15MW BESS deployments.
• Communications Power Power infrastructure services for communications and telecom operations including UPS systems, backup power, and preventative maintenance.
• Industrial Power Power solutions for industrial operations and manufacturing facilities including continuous material handling and power capabilities.
• Environmental & Safety Products OSHA-compliant spill containment systems, spill response kits, neutralizing products, and safety equipment for lead-acid battery handling operations.
• Distributed Energy Resource (DER) Management Energy management capabilities across multiple energy resources and locations to drive efficiencies and peak power management.
• Virtual Power Plant (VPP) Enablement Amplification of distributed energy resources management by expanding their use and transmission across geography and utility partners.

Quantifiable outcome

• 30% cost reduction while maintaining uptime through GuaranteedPOWER® program
• +4 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered parent/acquirer, parent company and subsidiary.

• Mitsubishi Heavy Industriesparent/acquirerOthers · 1 July 2023Mitsubishi Heavy Industries acquired Concentric LLC in July 2023 to strengthen its material handling capabilities. This acquisition positions Concentric as part of a major industrial conglomerate.
• OnPoint Groupparent companyOthersConcentric is a subsidiary of OnPoint Group, a leading independent provider of material handling and critical facility services nationwide. OnPoint Group's portfolio includes Miner, TrueSource, Concentric, and TFS with over 1,700 professionals.
• Southern States Enterprises (Southern States, Inc.)subsidiaryStrategic or Co-development PartnerAcquired in February 2021, Southern States Enterprises is a leading Florida provider of forklift power, docks, doors, racking, storage and other warehouse equipment. The acquisition strengthened Concentric's presence across Florida.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• EnerSys: EnerSys is the largest industrial battery manufacturer in North America, producing lead-acid and lithium batteries for forklifts along with related charging and monitoring services. Directly comparable as a supplier of motive power batteries and power management solutions for material handling fleets.
• East Penn Manufacturing: Privately held manufacturer of Deka-brand industrial batteries, chargers, and power solutions primarily serving material handling, motive power, and stationary applications. Comparable as a vertically integrated battery and power solutions provider serving similar forklift and critical power customers.

Broad incumbents

• Crown Equipment Corporation: Major US-based forklift OEM offering electric and internal combustion lift trucks with bundled service and power management programs. Comparable as a broader material handling incumbent increasingly competing in forklift power services and battery solutions for enterprise customers.
• Hyster-Yale Materials Handling: Global forklift OEM (Hyster, Yale, UTILEV brands) offering full-service dealer networks and integrated power solutions including lithium-ion forklift programs. Comparable as a broad incumbent that bundles power services into its OEM offerings, putting it in direct competition for enterprise warehouse power contracts.
• The Raymond Corporation: Electric forklift OEM and intralogistics solutions provider with integrated power, charging, and fleet management offerings. Comparable as a forklift manufacturer increasingly competing in power-as-a-service and energy solutions for distribution centers and warehouses.
• Vertiv: Public global provider of critical digital infrastructure and continuity solutions including UPS, power distribution, thermal management, and services for data centers, communication networks, and commercial/industrial environments. Comparable as a critical power incumbent competing for the same data center and industrial backup power customers Concentric serves.
• Generac Power Systems: Leading manufacturer of backup power generators, energy storage systems, and power solutions for residential, commercial, and industrial customers including data centers and utilities. Comparable as a broad incumbent offering backup generators and BESS that overlap with Concentric's critical power and energy storage offerings.
• Schneider Electric: Global specialist in energy management and automation with a substantial data center and industrial power portfolio including UPS, switchgear, and microgrid solutions. Comparable as a broader incumbent competing for the same mission-critical power, data center, and utility infrastructure customers.
• ABB Ltd: Global technology leader in electrification, motion, and automation offering UPS, switchgear, power distribution, and industrial automation solutions. Comparable as a broad incumbent with overlapping product categories in electrical infrastructure, industrial automation, and energy storage serving utilities and industrial customers.

Others

• Mitsubishi Logisnext Americas: North American forklift and material handling OEM (Cat, Mitsubishi, UniCarriers brands) operating as a sister company of Concentric under Mitsubishi Heavy Industries. Adjacent ecosystem participant with shared ownership and potential for bundled power solutions, but competes in equipment rather than service.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCMM-bodSmDkQ3ZDTH4HXmww
• LinkedInlinkedin.com/company/concentricusa
• Instagraminstagram.com/concentricllc
• Xx.com/concentricusa
• Facebookfacebook.com/concentricllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Concentric