Accelevation Set to List Wednesday After Raising $540 Million in IPO Fueled By AI Data Center Demand

Benzinga · 2d ago

Accelevation Holdings Corp. raised about $540 million after the data center infrastructure company priced its initial public offering at $18 per share on Tuesday.

Inside the $540 Million Offering

The company sold 30 million shares in the offering, with 10 million coming from Accelevation and the remaining 20 million sold by stockholders affiliated with Olympus Partners.

The stock will begin trading Wednesday on the Nasdaq Global Select Market under the ticker “ACCV.”

Morgan Stanley and J.P. Morgan are acting as joint lead bookrunning managers, while Goldman Sachs, Barclays and BofA Securities are acting as joint bookrunning managers. 

The offering is expected to close on Thursday, with Accelevation using the net proceeds to repay debt and fund general corporate purposes.

Revenue Surged Nearly 150-Fold Since 2021

Founded in 2017 by CEO Michael Rubiera and Shawn Rubiera, the Miamisburg, Ohio-based company manufactures power distribution, containment, and structural components for AI and hyperscale data centers at its own U.S. facilities.

Revenue grew from less than $3 million in 2021 to $447.8 million in 2025, up from $181.4 million in 2024. The company’s net income rose to $21.7 million in 2025 from $9.4 million in 2024.

The company counts Amazon.com, Inc., Alphabet Inc.‘s Google, Meta Platforms Inc., Microsoft Corp., Oracle Corp., and ServiceNow Inc., as well as data center operators including Digital Realty, Vantage Data Centers, Aligned Data Centers, and NTT.

Listing Bucks a Cautious IPO Market

Accelevation moved ahead with its IPO despite surging bond yields and a tightening rate environment that have cooled investor risk appetite elsewhere in the market.

OpenAI, which planned an IPO this year, has delayed due to an “ill-advised moment” and AI safety concerns, while Anthropic’s listing is reportedly delayed until after the November midterms.

Smart ring maker Oura postponed its IPO plans due to market uncertainty.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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