Dragons' Den gives Lancashire firm £100,000
BOSSES from a Lancashire security firm last night walked away with £100,000 of investment after winning over the stars of TV’s Dragon’s Den.
Peter Harrison and Wesley Downham pitched to ‘Dragons’ Theo Paphitis, Duncan Bannatyne, Peter Jones, James Caan and Deborah Meaden in a bid to win backing for FGH Security, which is based in Cannon Street, Accrington and White Cross, Lancaster.
And, after impressing the famously ruthless millionaire entrepreneurs, the Lancashire pair were rewarded with £100,000 of investment from Mr Jones and Mr Paphitis.
The TV duo will own a 20 per cent stake in FGH in return, shrinking to 15 per cent over time.
Mr Harrison said: “We couldn’t believe it at first to be honest.
“We’ve always believed in ourselves and our services, but to have five of the country’s key business personalities attempting to be part of FGH is one of those things that you don’t really believe is happening at the time.
“It didn’t really sink in until we were driving back after we had finished filming.
“I’d also like to add that, despite what you see on the TV, the Dragons were all very pleasant people who offered us some really good advice and encouragement.
“It’s fantastic to think that through hard work and vision we’ve taken a company from originally employing 10 people in 2003 to make it the multi-million pound security management company it is today where people like Peter and Theo can see the long term potential.”
FGH is one of the largest security suppliers based in the North West.
Peter Jones said, “FGH Security is one of those companies that comes along rarely where the potential for rapid growth is apparent but it just needs the investment and the right doors opening to make it a national success.
“Both Peter and Wesley have done a fantastic job getting the company to this stage.
“But I know with help from Theo and I they could be one of the largest security providers in the country in a few years.
“I know with my business portfolio FGH Security will fit right in.
“And I can see them being an excellent complement to my data solutions company Wireless Logic straight away.”
FGH Security provides a range of security services to public and private sector clients across the country.