Craneware shares surge on Bain Capital takeover interest

Keith Neilson – CEO of Craneware Plc

The announcement has fuelled speculation about rival bids and caused an over 10% surge in Craneware’s share price during trading – taking its market capitalisation to over £800 million today.

Craneware conducts all its business in the United States, providing software packages designed to enhance operational efficiency for healthcare providers.

In a statement to the stock exchange, Bain Capital acknowledged the recent movement in Craneware’s share price and the “speculation” surrounding a potential offer. The US firm clarified that its funds are “assessing a possible offer to acquire the issued and to be issued share capital of Craneware.”

However, Bain Capital emphasised that “this evaluation is highly preliminary in nature, and has not to date involved any approach to the board of Craneware”. The private equity firm has until 5 pm on 13 June 2025 to either declare a firm intention to make an offer or confirm that it will not proceed with one.

Analysts at Panmure Liberum commented on the unusual nature of the announcement at such an early stage of discussions, noting that no formal approach has yet been made to Craneware’s board. Despite this, they reiterated their belief that Craneware is an attractive bid target, offering a strong position in the US healthcare software market. The analysts suggest that several parties could be interested if the process moves forward and maintain a “Buy” rating and a target price of 2750p for Craneware shares, citing the company’s growth and margin potential.

This potential acquisition would mark another instance of a UK-listed company attracting interest from private equity, a trend driven by perceptions of undervaluation in public markets.