Private investment firm Hg Capital is in advanced discussions to acquire financial software company OneStream Inc in a take-private deal, according to a report by Bloomberg citing unnamed sources familiar with the matter.
A deal could be announced in the coming days, though terms and timing remain uncertain, and talks could still fall through, according to Bloomberg’s sources.
OneStream, based in Birmingham, Michigan, has seen its shares fall 35% over the past year, giving it a market value of around $4.5bn. The company went public in 2024, raising $563.5m in an IPO that included participation from KKR & Co. OneStream serves roughly 18% of the Fortune 500.
Hg, which manages over $100bn across offices in London, Munich, Paris, New York, San Francisco, and Singapore, was previously identified as a potential bidder when OneStream explored strategic alternatives last year.
