Accelevation (ACCV) Brings Data Center Infrastructure to Nasdaq in $660 Million IPO

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.

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.

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