In August 2014, 19 year-old Jordan Daykin became the youngest ever entrepreneur to win investment on Dragon’s Den, securing £80,000 investment from hard-to-please Deborah Meaden, in return for a 25% stake in his company GripIt Fixings.
GripIt Fixings are a revolutionary new design of universal fixing designed for use with all types of plasterboard installation. Deborah proved the strength of the fixings by sitting in a chair suspended by chains from a number of GripIt Fixings in a plasterboard wall.
Along with his grandfather, a retired engineer, Daykin developed the patented fixings after struggling to put up a curtain rail and applied for a patent, aged 14, in 2009, which was granted in November 2012.
Prior to pitching to the Den, the Wiltshire-based teenager had already got his product into 500 stores across the UK, signing deals with DIY chain Wickes and builders’ merchant Travis Perkins.
Following her investment, Deborah Meaden was quoted as saying: “Coming up with a practical solution for a problem that enough people experience and at a competitive price is the essence of business and that Jordan did this at the age of 13 is extraordinary. Having worked with him and seeing his drive, clarity and focus, it is no surprise that the range has already grown and GripIt Fixings now sells in over 700 stores nationwide.”
On account of his success and Meaden’s investment, the business has since developed further and the fixings are now being sold in 1,400 shops around Britain and Daykin is currently in talks with Screwfix following referrals by Meaden. Internationally, GripIt Fixings is already trading in Germany and Belguim, with a patent pending in America where the market is seven-times larger than the UK. Daykin’s plan is to take the product to the rest of Europe and Australia as well.
Plastribution’s involvement with the company began as the new injection moulding machinery was being installed in to the firm’s Wiltshire base.
Having previously outsourced their moulding requirements, GripIt Fixings were now able to consolidate their operation and drive a more streamline, cost effective business model. During this transition, the company contacted Plastribution to discuss material selection and benefit from our technical know how. Having previously used a number of Acetal grades for its hardness and strength, a new design of fixing was planned (GripIt 2015) which required compound samples and trials to improve the torque and pull out tolerances of the product.
Alongside Plastribution’s assistance in improving material grades, we have also provided technical advice for colouring and provided master batch, offered advice for increased production efficiency by reducing time required to achieve colour changes, sourced alternative materials that were commercially better and put training in place for GripIt Fixing’s staff to attend PTIC (Polymer Training & Innovation Centre) in Telford.
As their new product goes into production and a global deal is signed with RS Components, GripIt Fixing’s relationship with Plastribution continues to evolve and we look forward to providing this British success story with our technical support and expertise for the future.