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Richard Enion and Michael Davis deliver a high volume pitch, with a demonstration from their fast-paced and energetic drumming group. Their display draws applause from all but one of the Dragons – Duncan Bannatyne looks visibly unimpressed.

The other four Dragons are persuaded to take part in a practical drumming exercise with much amusement. The pitch is backed up by a seemingly impressive business history: the duo have done work in the past for high profile corporate groups and been featured in a television advert.

Duncan Bannatyne remains sceptical however, questioning their experience of corporate team building. Michael assures him that drumming unites people and invites Duncan to join the other Dragons in a body percussion exercise. However, Duncan is quick to remind him that he is here to make serious investments, not to have fun and play the drums!

Theo Paphitis also seems to lose his enthusiasm during the demonstration, saying "Clapping? Is that it?"

James Caan is quick to move things onto the pair's financial projections. He seems dubious about their claims that their turnover will rise from £10,000 to £120,000 in one year. But, Richard quashes his doubts by confidently backing up these ambitious figures by citing the predicted events which will take them to this target.

Deborah Meaden then questions Richard about their competitors and seems impressed to learn that similar outfits have a large number of franchises which sell for £100,000.

For Duncan Bannatyne however this still fails to impress. He tells them that during their demonstration he wrote down how he felt. For him, the demonstration was neither energetic nor positive, it was simply "horrendous". The display of the other four Dragons drumming was also "even more horrendous". For that reason he's out.

Duncan's cynicism seems contagious; James Caan is quick to follow suit, telling Richard and Michael he can see no real business value in their pitch.

The mood changes when Peter Jones, in a surprise turn of events, tells them their demonstration is a breath of fresh air which he "absolutely gets" as he runs an events business with Theo. He offers them half the money for 20% of the business, but tells them this offer is conditional on what Theo wants to do.

Theo seems reluctant to follow him, instead questioning Richard and Michael about their background. He tells them he's worried that this is just a lifestyle business for them and asks for their commitment to stick with the business until he has his money back. With this commitment promised he matches Peter's offer.

Deborah then tells the pair she'd like to make them an offer, but as she doesn't have a structure to put their business straight into she has decided not to – and so is out.

With only one offer on the table Richard and Michael retreat to discuss the proposal. They return to tell Peter and Theo that they're asking for a huge cut and ask if the percentage is negotiable. The answer is a firm no from the Dragons, with Theo asking them what a huge cut of nothing is. Michael seems reassured to learn from Theo that the offer would not tie them exclusively to Theo and Peter's company.

Yet the pair still seem hesitant to accept and retreat again to mull over their options. They return and accept the offer, and exit the Den leaving Peter and Theo happily playing on the drums.

The deal done in the Den: £50,000 for 40%

The deal done in the Den:

Peter Jones and Theo Paphitis: £50,000 for a 40% stake in BassToneSlap.

Last updated: 22 July 2009