LATTON MAN ANCHORS EASY €60,000!

13 April 2012 No Comments by The Northern Standard

By Cianna McNally

A Monaghan man who successfully secured a €60,000 investment on RTÉ TV show Dragons Den believes he got more than just the money he was looking for.
Noel Lennon who hails from Latton appeared on the show which aired last Sunday night, 8th April.
He pitched his Lennon Easy Anchor, a steel stake which secures items including trampolines, bouncing castles and goal posts to the ground.
Once the Lennon Easy Anchor is hammered into the ground like any ordinary stake, a device is inserted into it which in turn releases a side bolt under the ground making it impossible for the stake to dislodge even in storm force gales.
Latton’s new Anchorman Noel impressed Dragons Gavin Duffy and Sean O’Sullivan who together invested €60,000, (€30,000 each), in the local man’s product in exchange for a 25 percent stake in the business between them.
Speaking to the Northern Standard, Noel described his experience in the Dragon’s Den as “nerve-wracking” but added that he had confidence in his product before he faced the Dragons.
“It was a bit nerve-wracking going on the show but once I got into the Den it was ok because I felt I had a good product.”
Regarding the two Dragons investment, Noel said that once he had accepted their offer, things happened very quickly.
“All the legal work regarding their €60,000 investment for 25 percent of the company was satisfactorily completed within a couple of weeks.”
However, the Latton man was quick to add that it was not all about the Dragons money as he described the mentoring and assistance he also received from them as “invaluable.”
Noel is just back from China as he travelled there after filming to find out whether outsourcing part of the manufacture of the Lennon Easy Anchor was a viable option.
A TV crew captured the local man’s itinerary while he was in China and Noel will feature on television once again in May when the current series of Dragons Den concludes with follow-ups on how deals have progressed after the Den.
Noel could certainly be described as an entrepreneur as he also established The Lennon Clothesline as a market leader in Ireland for people who want to save energy costs and dry clothes outside without them getting rained on.
Speaking further about the assistance he had received from the Dragons, the Monaghan entrepreneur said that Dragon Gavin Duffy was helping with the launch of the Easy Anchor and how to better distribute the Lennon Clothesline in both Ireland and the UK while Dragon Sean O’Sullivan had arranged the visit to China.
The creation of jobs locally is important to Noel who also told the Northern Standard that the manufacture of his full product range will take place in his factory with only one part of the Lennon Easy Anchor being supplied from China.

Comments are closed.