Data-center builder flaunts adaptability in IPO
MS•Accelevation plans to sell 8.6 million shares for $20 to $24 each, valuing the data-center infrastructure company at about $4.9 billion. It reported first-half revenue of $437 million, up from $159 million a year earlier, and $28 million in operating profit, versus a loss in the same period in 2025.
1. Planned IPO
Accelevation said it plans to sell 8.6 million shares for $20 to $24 each in an initial public offering that would value its equity at about $4.9 billion. Existing owners also intend to sell 21.4 million shares.
2. Revenue and profit
The company generated $437 million of revenue in the first half of the year, compared with $159 million a year earlier. It swung to $28 million of operating profit from a loss over the same span in 2025.
3. Business and ownership
Accelevation designs and installs cooling and power systems for data centers. Olympus Partners, which bought the company in January 2025 for an undisclosed amount, will retain 85% of its stock. Morgan Stanley and JPMorgan are the IPO's lead underwriters.
