Anuncio • Apr 02
Tidemark Capital, Inc., General Atlantic Service Company, L.P., Hg Saturn 1 managed by HgCapital LLP completed the acquisition of OneStream, Inc. (NasdaqGS:OS) from Tidemark Capital, Inc. and KKR & Co. Inc. (NYSE:KKR).
Tidemark Capital, Inc., General Atlantic Service Company, L.P., Hg Saturn 1 managed by HgCapital LLP entered into a definitive agreement to acquire OneStream, Inc. (NasdaqGS:OS) from Tidemark Capital, Inc. and KKR & Co. Inc. (NYSE:KKR) for approximately $6 billion on January 6, 2026. As a consideration, Shareholders to Receive $24.00 Per Share in Cash. Hg to Become Majority Shareholder, with Minority Investments from General Atlantic and Tidemark. Upon completion of the transaction, OneStream's Class A common stock will no longer be listed or traded on any public stock exchange. A group of private credit lenders led by Blue Owl Capital has agreed to provide a $1.4 billion loan to support Hg’s acquisition of OneStream.
Sell side termination fee is $207 million. Mr. Shea will continue to serve as CEO, and the current leadership team will remain in place. OneStream will maintain its headquarters in Birmingham, Michigan.
The transaction has been unanimously approved by OneStream's Board of Directors and by the acquirers board, is expected to close in the first half of 2026, subject to the receipt of required regulatory approvals, shareholder approval, expiration or termination of the applicable waiting period under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions. KKR, in its capacity as the holder of a majority of OneStream's voting power, has approved the transaction.
J.P. Morgan Securities LLC acted as financial advisor and fairness opinion provider for OneStream, Inc and will be paid a fee of approximately $48 million, approximately $5 million of which became payable to J.P. Morgan at the time that J.P. Morgan delivered its opinion and the remainder of which is contingent and payable upon the consummation of the proposed mergers. Centerview Partners LLC acted as fairness opinion provider and financial advisor for OneStream, Inc. and will be paid a fee of up to $5 million, $3.9 million of which was payable upon the rendering of Centerview’s opinion and $1.1 million of which is payable contingent on certain circumstances and upon consummation of the Transaction.Allison B. Spinner, Michael Nordtvedt, Rezwan D. Pavri, Douglas K. Schnell and Remi P. Korenblit of Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor for OneStream, Inc. Goldman Sachs & Co. LLC acted as financial advisor for HgCapital LLP. Sean Doyle and Blair Thetford of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for HgCapital LLP. Timothy Curry, Bret J. Stancil and Andrew M. Levine of Jones Day acted as legal advisor for KKR & Co. Inc. Eric Wedel, Ben Steadman, Caroline Epstein, Matthew Abbott, Austin Pollet, Jarrett Hoffman and Lindsay Parks of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for HgCapital LLP and General Atlantic. Deloitte & Touche LLP is providing financial & tax diligence, Bain & Company is providing commercial & technological diligence and Cruxy & Company is providing product strategy diligence, to Hg. FGS Global is serving as strategic communications advisor to OneStream. Josh McLane, Nicholas Doloresco and Kyle C. Krpata of Weil, Gotshal & Manges LLP acted as legal advisor to Tidemark Capital, Inc. Equiniti Trust Company, LLC acted as transfer agent to OneStream, Inc. Ernst & Young LLP acted as accountant to OneStream, Inc.
Tidemark Capital, Inc., General Atlantic Service Company, L.P., Hg Saturn 1 managed by HgCapital LLP completed the acquisition of OneStream, Inc. (NasdaqGS:OS) from Tidemark Capital, Inc. and KKR & Co. Inc. (NYSE:KKR) on April 1, 2026.