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Paul Cockle came to the den to secure a £160,000 investment in his contemporary circus production business, the Generating Company.

He had big plans and wanted to use the money to build his business and compete with Cirque de Soleil, the world's most lucrative circus company, estimated to be worth $1.2 billion.

Things didn't start well for Paul. Doug Richard revealed an enormous knowledge of the financial history of Cirque de Soleil, and criticised Paul for the way he planned to build his company.

Rachel Elnaugh found it difficult to see a way through the risks of hit and miss shows and alongside Duncan Bannatyne went out early.

Doug Richard followed soon after, declining to invest despite saying he thought there was room in the market for a competitor to Cirque de Soleil.

With only two dragons left, things looked bad for Paul and his business advocate who had joined him in the den. But true to form, Peter Jones surprised everyone by putting in an offer of £80,000 for 20% of Paul's company.

Paul came in looking to sell a total of 20% for £160,000 so he'd have to agree to sell 40% now to get the cash he wanted.

Everything relied upon the decision of Theo Paphitis, the only dragon left. Luckily for Paul, Theo Paphitis was also positive and with Peter Jones saw major opportunities for The Generating Company in corporate hospitality as well as stand alone shows.

The done deal:

Peter Jones: and Theo Paphitis: 40% company shares for £160,000 investment.