Olympus-backed Accelevation files for US IPO

Sept 2 (Reuters) - Olympus-backed ‌data center ​infrastructure ​firm Accelevation filed for a U.S. initial public offering on Wednesday, seeking ‌to tap into the investor demand for ⁠companies serving the AI boom.

The market for new listings ‌has gained momentum this ‌year, buoyed by several high-profile IPOs and a strong pipeline of firms seeking to ​go public.

• Accelevation provides infrastructure and power products, spanning power distribution and deployment, catering ⁠to data center customers.

• Demand for companies that are powering ​the AI-boom has been strong, as investors seek to gain exposure to firms ​seen as benefiting from ‌rapid capital spending in the industry.

• Accelevation, which was acquired by private ⁠equity firm Olympus Partners in January 2025, was founded in 2017 by Chief Executive Michael Rubiera.

• ⁠The company had a backlog of about $1.1 billion as ​of June 30. Its revenue for the year ended December 31 rose to about $448 million, from $181 million a ‌year earlier, while net income more-than-doubled to $21.8 million.

• Accelevation intends to list ‌on the Nasdaq under the ticker "ACCV".

• Morgan ⁠Stanley, J.P.Morgan, Goldman ‌Sachs, Barclays, and ​BofA Securities are among the underwriters for the offering.

(Reporting by Utkarsh Shetti in ‌Bengaluru)

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