The pitch
What walked into the Den
Igloo appeared on Dragons' Den in season 4, episode 1, which aired in 2007, pitched by Anthony Coates- Smith and Alistair Turner.
In the pitch, Igloo asked the Dragons for £160,000 for 22.5% of the business, valuing the business at about £711,111.
After the show
What happened next
On air, Igloo agreed a deal of £160,000 for 22.5%, backed by Duncan Bannatyne and RichardFarleigh. The terms are quoted from the aired episode as public record.
Our read
The Hub verdict
Igloo is one of the rarer Den entries: a business-to-business logistics play rather than a shiny consumer product. Anthony Coates-Smith and Alistair Turner opened at £160,000 for 8 percent of their chilled and frozen transport firm, a £2,000,000 price tag. That did not survive the room. The deal that closed was the same £160,000 for 22.5 percent, split between Duncan Bannatyne and Richard Farleigh, which resets the valuation to about £711,000. Giving up nearly three times the equity for an unchanged cheque is the classic Den squeeze, and a service company carrying vehicles and depots is exactly where Dragons press hardest on price.
The same cheque, nearly triple the equity, after the squeeze.
