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Construction waste company courts TVs dragons

A construction waste companys appearance on BBC Twos Dragons Den has culminated in the founder taking away £200,000.

Prowaste Management Services founding partner Paul Tinton entered the infamous den asking for £200,000 for 20% of his company.

However, it was not easy for Tinton who had to negotiate with two dragons to secure the deal.

Tinton pitched the construction waste separation service, which collects separate waste streams in colour coded wheelie bins. He explained that the bins are then collected and material is delivered to processors. Prowaste also offers consultancy services.

Tinton won over Duncan Bannatyne and Deborah Meaden with his market knowledge and confidence in Prowastes competitiveness. He told the dragons: You have all experienced companies going though rapid growth and you have seen the problems that companies face and how to help them manage that process.

Peter Jones and Theo Paphitis decided not to invest but both seemed impressed by the business, which has a £350,00 turnover, with about 20% gross profit and 10% net profit.

Bannatyne and Meaden offered £200,000 for a shared 40% stake, which after unsuccessfully trying to negotiate down to 33%, Tinton accepted.

But he was pleased with the result and presenter Evan Davis said it was one of the highest investments seen in the den.

Tinton said: It wasnt just about the money, weve got two highly experienced business partners.

Meaden said: Paul and his business partner Colin had identified a real need in a fairly traditional marketplace. He convinced me that this legislation had the potential to generate substantial new business for Prowaste.

Image: The Dragons from left to right, James Caan, Deborah Meaden, Peter Jones, Theo Paphitis and Duncan Bannatyne.

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