AI Infrastructure Supplier Accelevation Seeks Up to $5.37B Valuation in US IPO

Accelevation (ACCV-US), an AI data center infrastructure supplier, said on Tuesday it plans to raise up to $720 million in a US initial public offering, targeting a valuation as high as $5.37 billion. The Miami Township, Ohio-based company and certain selling shareholders will offer 30 million shares priced between $20 and $24 each. Underwriters include Morgan Stanley, J.P. Morgan, Goldman Sachs and BofA Securities. Accelevation designs, manufactures and installs custom power and infrastructure for data centers, including remote power panels, structured cabling, cabinet aisle containment systems and modular infrastructure for air- and liquid-cooled facilities. Backlog stood at about $1.1 billion as of end-June 2026. Revenue rose roughly 148% to about $448 million in 2025 from $181 million in 2024, while net income more than doubled to $21.8 million. Founded in 2017 by CEO Michael Rubiera, the company was acquired by private equity firm Olympus Partners in January 2025.