MTEC

Made Tech Group PLC

Technology First-pass screen £57m

520/1000 Overall fit

AI beneficiary 35% 50

Operating leverage 25% 65

Valuation 25% 30

Downside protection 15% 70

First-pass take

Made Tech is a profitable UK public sector digital services provider with emerging AI capabilities (Data & AI practice doubled; Databricks partnership) and improving operating leverage (EBITDA margin +130bps to 7.5% despite gross margin compression). However, AI is a nascent practice within services delivery, not the core growth driver. Strong net-cash position (£10.4m, zero debt) and £92.2m backlog provide near-term visibility, but single-market exposure to government procurement cycles and lack of valuation data limit the score.

Flags

no-valuation-datasingle-marketcyclicalnet-cashai-growth-immaturemicro-cap-likely