MATT Concrete

Randy and Kevin, brothers from Delta, BC, sought $150,000 for 5% equity in Matt Concrete, a prefab panel product that is a thin layer of real concrete bonded to plywood, designed to be lighter, faster, and less expensive to install than traditional concrete. The panels sell for $25 to $30 per square foot, about half the price of a traditional concrete installation, and can be cut with a standard saw and installed with nails or glue without special tools. The company has invested $500,000 to date, had sales of $500,000 last year, but ran at a net loss of about $25,000 per year over the last two years, operates a 5,000 square foot facility in Delta, BC with a manufacturing capacity of 13,000 panels per year, and has not yet secured major retail partners like Home Depot or Lowe's.

Wes Hall went out citing a lack of hustle, no profits and no customers. Manjit Minhas went out saying the founders had created an innovative product but not yet a business. Brian Scudamore went out feeling the founders had better partners available at the table. Drew Scott offered $150,000 for 30%, citing his retailer relationships and product development experience, while Arlene Dickinson offered $150,000 for 20%. The founders accepted Arlene Dickinson's offer.

MATT Concrete is still operating and sells through its website.