Dragons Den revisit the only business to exceed financial goals after turning down a dragon

by James Agate

Dragons Den Revisited will this week head to see Paul Ward, a director of Paragon PE. Paul first appeared in the den in August 2009 but turned down James Caan’s offer of £100,0000 for a 30% stake in the business – seeking an investor who only wanted 5% of the equity.

The entrepreneur is behind the world’s first non bio laundry detergent designed to kill 99.99% of superbugs. Since the show, Paragon PE has exceeded the financial targets it set itself– which according to dragon James Caan, is something no other business that’s turned down an offer of investment has managed to do.

Paul Ward left school at 16 joining the Royal Army Medical Corps, he left in 1990 to work in the chemicals industry. Over the next 14 years, Paul combined full-time work with six years at night school studying chemistry and IT before launching his own company in 2004.

The breakthrough for the business was the signing of a deal with South Wales’ detergent manufacturer Eastern Valley Chemicals three years ago which has now led to the launch of the Halo products for the consumer retail market.

Ward, 42 and married with a one-year-old child, has remortgaged his home twice and together with a business partner  has spent more than £250,000 bringing the products to market.

Paragon’s turnover in 2008 was £449,000, while last year it increased to £1.4million. Turnover is expected to exceed £2million next year.

Ward, who lives in Widnes,  said: “It was a terrific experience to appear on Dragons Den and now Dragons Den Revisited and even more satisfying to discover that we are the only company to turn down a Dragon and go on to exceed our financial targets.“