Aerr Technologies

Terry Ruddell
Oshawa, ON

The pitch

Terry Ruddell from Oshawa, ON, pitched Aerr Technologies in Season 13, Episode 8, asking the Dragons for $200K for 50% of the company.

Asked for$200K for 50%
Valuation$400Kimplied by the ask
OutcomeDealwith Manjit Minhas
Final deal$200K for 50%valued at $400Kplus a royalty: plus $1 million loan at 6% interest

Offers in the Den

Dragon	Offer	Result
Jim Treliving	Went out, not interested in the machine business	Out
Michael Wekerle	Went out, referencing his experience building Club Penguin against big competitors	Out
Vincenzo Guzzo	$100,000 for 50% plus another $100,000 to buy machines for his theatres	Withdrawn
Manjit Minhas	$200,000 for 50% plus a $1 million loan at 6% interest	Accepted
Michele Romanow	$200,000 for 45% plus a $1 million loan at 6% interest	Declined

Terry Ruddell, an engineer from Oshawa, Ontario, pitched Aerr Technologies, asking for $200,000 for 50% of his company. He built a foosball-style arcade game called Jet-Ball that uses air jets instead of rods, developed in his garage with his sons. He has tested the game at Dave & Buster's in San Diego, where it earned about $1,000 a week, and has a revenue-sharing arrangement with an arcade in Miami that generates about $2,500 a year per table. Terry's plan was to build 400 tables offshore at $2,000 each, requiring about $1 million in funding, and he asked the Dragons for a $1 million loan in addition to the $200,000 equity investment.

Jim Treliving and Michael Wekerle went out, both feeling Terry needed a stronger business partner or was not the right fit for their portfolios. Vincenzo Guzzo offered $100,000 for 50% plus another $100,000 for machines but withdrew after Manjit Minhas and Michele Romanow made competing offers. Manjit Minhas offered $200,000 for 50% plus a $1 million loan at 6% interest, and Michele Romanow offered $200,000 for 45% plus the same loan terms. Terry accepted Manjit Minhas's offer.

Pitch details from CBC’s Dragons’ Den pitch page.