Unbuilders

Adam Corneil, from North Vancouver, BC, sought $500,000 for 12.5% of Unbuilders, a deconstruction company that dismantles old buildings by hand to salvage lumber and other materials rather than demolishing them, diverting 95% of a building from landfill; the company donates fixtures and finishes to Habitat for Humanity and resells or remanufactures the recovered lumber, which retails for about five times the price of modern lumber and up to a 10-times multiple once turned into finished products. The company had done $800,000 in revenue year to date, projected $1.7 million for the year, expected to hold $500,000 worth of wholesale lumber inventory by year end, and operates in Vancouver, described as demolishing about 3,200 homes per year, with new bylaws requiring salvage of lumber from older homes expanding the addressable market.

Lane Merrifield first offered the full $500,000 for 12.5% or $100,000 to join a group deal, and Arlene Dickinson made a similar offer. Jim Treliving, Manjit Minhas, Vincenzo Guzzo, and Michele Romanow then all joined in, and the six Dragons collectively offered $600,000 for 18% equity, which Adam Corneil accepted.

Unbuilders is still operating and sells through its website.