OneStream, the Birmingham, Michigan-based provider of corporate finance software, agreed on 6 January to be taken private by Hg in an all-cash deal worth about $6.4bn, or $24.00 a share.
Why Hg (with General Atlantic and Tidemark) is buying OneStream, Inc.
OneStream said private ownership would give it more flexibility to invest in artificial intelligence and new products for the office of the chief financial officer while expanding internationally. Hg said it would seek to preserve the company's customer focus and entrepreneurial culture.
“Today marks a pivotal moment for OneStream and our vision to be the operating system for modern Finance”
Deal terms and financing
The $24.00 cash price was a 31% premium to the 5 January close and 27% above the 30-trading-day volume-weighted average. Hg invested from its Saturn fund and became majority voting shareholder, with General Atlantic and Tidemark taking significant minority stakes. KKR-managed funds, which held a majority of voting power, approved the deal by written consent, so no further stockholder vote was required.
Regulatory approvals and timing
The transaction required customary regulatory approvals. It closed on 1 April 2026, when OneStream's Class A common stock ceased trading on Nasdaq.
Market context
OneStream serves more than 1,700 customers, including 18% of the Fortune 500, and employs about 1,600 people. The deal came after reports in November 2025 that the company was exploring options as listed growth-software valuations came under pressure.
