Rancho Cordova network technology contracting company Retech has hired eight employees and plans to hire a dozen more following its acquisition last month by Concentric LLC.
Retech specializes in engineering, installing and managing critical power systems and backup power primarily for the telecom and cable industry, including data centers.
"We are excited to join the Concentric team to accelerate our customers’ success by expanding our nationwide footprint," said Julie Pulos, Retech co-founder and president, in a news release. "Joining forces with Concentric will enable us to add the resources we need to be able to quickly scale and meet our customers’ growing needs."
At the time of the acquisition, Retech had 40 employees, Ryan Lynch, senior vice president of strategy with Concentric, told the Business Journal. He declined to disclose the value of the acquisition.
Founded in 2000 and based in Carrolton, Texas, Concentric has about 1,000 employees. The Retech acquisition adds a West Coast presence to the company, Lynch said.
Concentric is in the business of providing critical backup power to various industries, as well as providing electric forklift power technology.
The Retech acquisition expands Concentric’s work in critical power and adds new construction capabilities for critical power solutions for telecom, energy storage, utilities and data centers, Lynch said.
Retech, a certified women-owned business, had revenue of $9.2 million in 2021, according to the Sacramento Business Journal’s Women-Owned Businesses list for 2022.
Retech is led by co-founders Julie and Dennis Pulos, veterans of the critical power industry. They remain in leadership positions after the acquisition, Lynch said.
Last week, Tokyo-based Mitsubishi Heavy Industries Ltd. completed its acquisition of Concentric. That transaction was originally announced in July. Mitsubishi bought 100% of Concentric from holding company OnPoint Group of Ohio.
Concentric and Retech continue working under their same names following the Mitsubishi acquisition, Lynch said.
