MPAC

Mpac Group PLC

Industrial Goods and Services First-pass screen £71m

340/1000 Overall fit

AI beneficiary 35% 30

Operating leverage 25% 45

Valuation 25% 30

Downside protection 15% 35

First-pass take

Mpac is a high-quality precision engineering business serving defensive food & beverage (51%) and healthcare (30%) sectors, but has zero AI exposure. Post-acquisition net debt of £47.9m, declining order book (down 24% YoY to £90m), and working capital ballooning £13.5m challenge near-term resilience.

Flags

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