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.
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Accelevation provides infrastructure and power products, spanning power distribution and deployment, catering to data center customers.
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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.
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Accelevation, which was acquired by private equity firm Olympus Partners in January 2025, was founded in 2017 by Chief Executive Michael Rubiera.
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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.
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Accelevation intends to list on the Nasdaq under the ticker "ACCV".
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Morgan Stanley, J.P.Morgan, Goldman Sachs, Barclays, and BofA Securities are among the underwriters for the offering.
Reporting by Utkarsh Shetti in Bengaluru
Source: Reuters