--- title: Accelevation (ACCV) Brings Data Center Infrastructure to Nasdaq in $660 Million IPO description: Revenue and backlog are climbing rapidly, while existing holders are selling most of the shares in the offering. image: https://blog.ipoprophet.com/hubfs/Accelevation%20Featured%20Image.jpg --- [Skip to content](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo#main-content) [![IPO\_PROPHET\_BLUE logo](https://blog.ipoprophet.com/hs-fs/hubfs/IPO_PROPHET_BLUE%20logo.png?width=2973&height=302&name=IPO_PROPHET_BLUE%20logo.png)](https://www.IPOProphet.com) - [Login](https://app.ipoprophet.com/login) Open main navigation Close main navigation - [Login](https://app.ipoprophet.com/login) [Subscribe to our Newsletter](https://share.hsforms.com/1xXldKrGiQBCbNmtOz6j4Jwq3cu4) [Go Back to Home](http://www.ipoprophet.com/) [Go Back to Blog](http://www.ipoprophet.com/blog) Sep 25, 2026, 5:04:42 PM # Accelevation (ACCV) Brings Data Center Infrastructure to Nasdaq in $660 Million IPO ![Picture of Eric Friedman](https://app.hubspot.com/settings/avatar/7a4cca62b5a89282b41a283a43efa80e) [Eric Friedman](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/author/eric-friedman) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo) [Twitter icon](https://twitter.com/intent/tweet?url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo) [envelope icon](mailto:?body=https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/accelevation-accv-brings-data-center-infrastructure-to-nasdaq-in-660-million-ipo) ![Accelevation1 logo](https://blog.ipoprophet.com/hs-fs/hubfs/Accelevation1%20logo.png?width=500&height=151&name=Accelevation1%20logo.png) **Accelevation Holdings Corp. (ACCV)** plans to sell **30.0 million shares** of Class A common stock at **$20 to $24 per share** and list on the **Nasdaq Global Select Market**. At the **$22 midpoint**, the offering would total **$660 million** and imply an **approximately $4.92 billion equity value on an as-exchanged basis**, which includes the LLC units that existing owners can exchange for Class A shares. Accelevation is issuing **8.64 million shares**, while existing stockholders are selling **21.36 million shares**. Morgan Stanley, J.P. Morgan and Goldman Sachs are among the lead underwriters. Accelevation supplies the physical infrastructure inside large data centers. The Miamisburg, Ohio-based company designs, manufactures and installs power distribution equipment, structural systems, cooling-related products and modular assemblies. Its SkyBridge platform brings several of those components together in a factory-built system intended to speed the installation of high-density data halls. That gives investors exposure to a practical part of the AI buildout: helping customers turn planned computing capacity into operational facilities. Growth has been sharp. Revenue rose 147% to $447.8 million in 2025, then reached $437.5 million in the first six months of 2026, up 176% from the comparable period a year earlier. Accelevation reported $19.3 million of net income for the first half of 2026, compared with an $8.7 million loss a year earlier. Adjusted EBITDA, a non-GAAP measure, increased to $68.4 million from $26.8 million. ![Accelevation image 1](https://blog.ipoprophet.com/hs-fs/hubfs/Accelevation%20image%201.jpg?width=587&height=762&name=Accelevation%20image%201.jpg) The order book offers another measure of demand. Accelevation reported approximately $1.11 billion of backlog at June 30, 2026, compared with $347.2 million a year earlier. Its backlog includes amounts under executed contracts and purchase orders, along with certain written letters of intent and notices to proceed. Project schedules can change, so that figure should not be treated as guaranteed future revenue. The growth figures need some context. Accelevation changed ownership at the start of 2025 and completed several acquisitions during the year, making 2024 and 2025 an imperfect comparison. Its gross margin also declined to 26.6% in the first half of 2026 from 30.4% a year earlier, despite the substantial increase in revenue. Investors will be watching whether larger projects and a broader mix of factory-built products can turn that volume into sustained margins and cash flow. The makeup of the IPO is unusually important. At the midpoint, existing holders are selling roughly **$470 million** of stock, or about **71% of the offering**, and Accelevation will receive none of those proceeds. The company expects approximately $180 million from the shares it issues after underwriting discounts and before offering expenses. It plans to use substantially all of that amount to repay borrowings. Debt, including its current portion, stood at $647.8 million at June 30. Earlier in 2026, incremental borrowing was used primarily to fund a $299.4 million distribution to certain members. ![Accelevation Financials placard](https://blog.ipoprophet.com/hs-fs/hubfs/Accelevation%20Financials%20placard.jpg?width=690&height=518&name=Accelevation%20Financials%20placard.jpg) Cash generation has yet to match reported earnings growth. Accelevation used $4.2 million of cash in operating activities during the first half of 2026 and reported negative free cash flow of $15.8 million. The timing of customer payments and spending on large projects could remain important as the company expands. Customer concentration adds another consideration. Four major customers represented 56.6% of first-half 2026 revenue, including one customer that accounted for 35.2%. Accelevation’s opportunity is closely tied to the construction plans of hyperscale and colocation operators, leaving results sensitive to changes in a relatively small number of programs. Olympus Partners is expected to retain approximately 85% of the combined voting power after the offering, making Accelevation a controlled company under Nasdaq rules. The company will also use an “Up-C” structure. Under an associated tax receivable agreement, certain future tax benefits could lead to substantial payments to existing owners. Accelevation offers a way to participate in data center construction through the equipment and systems installed inside those facilities. Its revenue growth and backlog show strong demand. The questions for the IPO are whether that growth produces durable cash flow, whether margins improve as projects scale, and how investors price an offering dominated by sales from existing holders.   [IPOs](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ipos), [2026](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/2026), [accelevation](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/accelevation) ## Related posts [![](https://blog.ipoprophet.com/hs-fs/hubfs/SK%20hynix%20thumbnail.jpg?height=200&name=SK%20hynix%20thumbnail.jpg)](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/sk-hynix-skhy-targets-landmark-28-billion-ipo-as-ai-memory-leader-expands-u.s.-investor-access) [IPOs](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ipos), [2026](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/2026), [AI](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ai), [SK hynix](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/sk-hynix) ## [SK hynix (SKHY) Targets Landmark $28 Billion IPO as AI Memory Leader Expands U.S. Investor Access](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/sk-hynix-skhy-targets-landmark-28-billion-ipo-as-ai-memory-leader-expands-u.s.-investor-access) ![Picture of Eric Friedman](https://app.hubspot.com/settings/avatar/7a4cca62b5a89282b41a283a43efa80e) [Eric Friedman](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/author/eric-friedman) Jul 6, 2026, 4:53:20 PM [Read more](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/sk-hynix-skhy-targets-landmark-28-billion-ipo-as-ai-memory-leader-expands-u.s.-investor-access) [![](https://blog.ipoprophet.com/hs-fs/hubfs/Safepoint%20thumbnail.png?height=200&name=Safepoint%20thumbnail.png)](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/safepoint-targets-267-million-ipo-as-insurance-services-platform-accelerates-growth) [IPOs](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/ipos), [2026](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/2026), [Safepoint Insurance](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/tag/safepoint-insurance) ## [Safepoint Targets $267 Million IPO as Insurance Services Platform Accelerates Growth](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/safepoint-targets-267-million-ipo-as-insurance-services-platform-accelerates-growth) ![Picture of Eric Friedman](https://app.hubspot.com/settings/avatar/7a4cca62b5a89282b41a283a43efa80e) [Eric Friedman](https://blog.ipoprophet.com/aslgkuh89gyaep98byanp9t8yaqtp98hyq358yna8pq48y/author/eric-friedman) Jun 2, 2026, 5:16:09 PM Safepoint Holdings, Inc. has filed for an initial public offering on the New York Stock Exchange... 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