BBC Dragons' Den - FGH Security (part 1)

http://www.fghsecurity.co.uk

Taken from the BBC Dragons' Den website

A confident pitch from two imposing men in grey suits has the Dragons sitting up and paying attention. Peter and Wesley describe an impressive success story from their security company, which began as bouncers for a students' union and has gone on to win large public and private sector contracts with the goal of becoming a domestic and commercial security brand.

Their unique selling point, they claim, is that they are "unlike any other security company". Clearly these two, just as they claim, are not just stereotypical bouncers.

Deborah Meaden wants to know why they are in the Den at all. Wesley and Peter explain that they have "taken risks" with money management, including employing a debt collection agency that didn't work out for them, and that investment will remove that financial pressure.

James Caan is impressed by the number of staff they employ and with their projections. He is particularly excited that they are growing through acquisitions and immediately offers them exactly what they asked for: £75,000 for 10%.

Theo Paphitis believes this is a fair offer, but wants to know if the stake of 10% will be worth his time and expertise in getting involved with the company. Peter and Wesley respond that they shouldn't need too much help: they're doing well at attracting clients on their own.

Duncan Bannatyne asks Wesley and Peter to explain their backgrounds and how they got into security. From their answers, it's clear the men know their industry.

Deborah is also keen to make them an offer, but she agrees with Theo that a 10% stake is too low. She asks for 15%. Duncan, sensing a lot of interest, leaps in to beat both the other Dragons' offers at £100,000, but he wants 20% of the business.

Theo is still unconvinced that 10% will be worth his while, but he likes Peter and Wesley and matches James Caan's offer of £75,000 for 10%.
Peter Jones has been uncharacteristically quiet up to this point, but he has an ace up his sleeve. Peter offers something that no other Dragon can, which is access to the top technology company in the UK industry. In addition, he offers £75,000 and asks for a 15% stake.

With a clean sweep of Dragon offers, Wesley and Peter need some time to talk it over.

They ask if Theo and Peter would be willing to make a deal together for 7.5% each. Theo is stumped for a moment. He and Peter offer £100,000 between them for a total of 20%, which will be reduced to 15% when the money is repaid. Peter and Wesley are overjoyed to accept.

Category:

Entertainment

Tags:

• Dragons' Den
• investment
• Peter Jones
• Theo Paphitis
• FGH Security
• Peter Harrison
• Wesley Downham