A SUCCESS STORY

From No Funding or Exit Plan to All-Cash Deal with a Public Buyer

VIDEO LENGTH 5:03 MINUTES

Tad Fallows didn’t build iLab Solutions with an exit in mind. As a founder in a specialized vertical, with no outside investors and a modest TAM, he focused on building a business he was proud to own. But when unsolicited interest surfaced, it raised a critical question: if this is the moment, how do I make the most of it?

In this video, Tad shares how SEG helped him strengthen his position, anticipate buyer concerns, and run a process that led to an all-cash acquisition by a public company, at more than double the valuation he had set. View Transaction Details.

TRANSCRIPTION

Meet Co-Founder & Former CEO

{Tad Fallows:} I’m Tad Fallows, co-founder and former CEO of iLab Solutions. We built software for research labs at universities and hospitals. It was a small but important niche, and we never took any outside capital. Eventually, we were acquired by Agilent Technologies, a public company, for more than twice what we’d originally expected, and SEG helped make that happen.

We Weren't Building Toward an Exit

{Tad Fallows:} At first, we weren’t thinking about selling. We just wanted to build something we’d be proud to own. But over time, things changed, buyer interest picked up, and I realized the majority of my net worth was tied up in this one company. That’s when I first reached out to SEG.

The Early Advice that Led to Better Valuation

{Tad Fallows:} SEG didn’t rush to take us on as a client. In fact, they told us we shouldn’t sell yet, and they were right. They offered to coach us with no strings attached, helping us hit key milestones that would materially improve our valuation. It was their integrity in those early conversations that really stood out.

Coaching that Built Buyer Confidence

{Tad Fallows:} SEG knew what was coming long before we did. They helped us get our KPIs in shape, guided us through what due diligence would look like, and gave us a roadmap to prepare. When we formally kicked off the process, our data was clean, our story was tight, and buyers took notice.

The Biggest Challenge We Had to Overcome

{Tad Fallows:} One of the biggest challenges was our market size. We weren’t operating in a space with massive upside. But SEG knew how to help us position the opportunity, not by overstating it, but by showing credible paths to expansion. Their pattern recognition made a huge difference.

A 2X Outcome and No Regrets

{Tad Fallows:} We received more than double the internal valuation target we’d set, and all cash, from a public company. We would not have achieved that without SEG’s guidance, preparation, and process.