Accelevation Holdings, a manufacturer of power distribution and infrastructure products for data centers, raised $540 million by offering 30 million shares (67% secondary) at $18, below the $20 to $24 range.
The company manufactures and installs the power distribution and white space infrastructure that sits inside data centers. Its products and services include branch circuit whips, remote power panels, PDUs and related monitoring, thermal management and field installation into factory-built packages. It earns revenue from product sales and from installation and field services delivered at the customer site. Serving hyperscale, colocation, AI and cloud operators, it grew revenue 147% in 2025, and held a backlog of approximately $1.1 billion as of June 30, 2026. Private equity firm Olympus Partners has owned the business since early 2025 and will hold majority voting power following the offering.
The Miamisburg, OH-based company will trade on the Nasdaq under the symbol ACCV. Morgan Stanley, J.P. Morgan, Goldman Sachs, Barclays, BofA Securities, Houlihan Lokey, Baird, William Blair, Piper Sandler, WR Securities, and Nomura Securities acted as joint bookrunners on the deal.
