This paper describes a compiler that generates both hardware and controlling software for field-programmable compute accelerators. By analyzing a source program together with part of its input, the compiler generates VHDL descriptions of functional units that are mapped on a set of FPGA chips and an optimized sequence of control constructions that run on the customized machine. The primary technique employed in the compiler is partial evaluation, which is used to transform an application program together with part of its input into an optimized program. Further phases in the compiler identify pieces of the program that can be realized in hardware and schedule computations to execute on the resulting hardware. Finally, a set of specialized functional units generated by the compiler for a timing simulation program is used to demonstrate the approach.