Established in 1996, Kalex Valuations Inc. has grown to become a leading boutique provider of independent business valuations, dispute support, tax dispute and transaction advisory services to our clients. Our firm has been involved in valuations and other engagements for clients ranging from small owner managed businesses to public corporations with multi-billion dollar market capitalization.

Our professionals have a wide range of experience as Chartered Business Valuators, asset and securities valuators, forensic and investigative accountants, Chartered Professional Accountants, Chartered Financial Analysts and trust and estate practitioners.

The firm has earned a reputation for providing objective and practical solutions to complicated business and financial problems for our clients in a cost-effective, timely and easy to understand manner.

We are centrally located in downtown Toronto between the Annex and Yorkville neighbourhoods.

We also have local representation in the Caribbean.




I found Kalex valuations very easy to deal with.

My calls were returned promptly.

I needed to get the valuation done in a certain timeframe and Melanie’s team met that deadline a week in advance.

I would recommend Melanie and her team to anyone that asks.

- Joey

I have worked with Melanie of a number of files for various tax reorganizations and other litigation work and have always been more than happy with the service and the detail of the valuation reports provided to us. We never once have had any issues with this firm and its our "go to" firm for valuation support.

I would highly recommend Kalex to any person seeking valuation assistance...

Thank you Melanie and team for all your hard work and dedication!!

- Alex Humayun Ghani

I am writing to recommend the services of Nick Rotundo, CPA, CA, CBV of Kalex Valuations Inc. Nick worked on our company valuation report.


I feel confident in recommending Nick’s accounting services.


He was easy to work with and always willing to take the time to discuss any concerns I had and respond to questions.    


   - Stanley Kwok

I have known Melanie for many years, as she has been President of the North York CPA Association. She is highly respected in the space. 

- Tom Hawkett-Connect for Growth

Knowledgeable and cost effective business and income valuations for family law matters.


Jacqueline Peeters of Cohen Alves Yates LLP

Melanie and her team are among the best in the business at business valuations. I recommended them for an intellectual property valuation in a shareholder dispute - their valuation was the report accepted by the courts. They do excellent work!



Very useful service for small businesses 


- Jean-Pierre Laporte of INTEGRIS Pension Management Corp.

Excellent technical skills that are understandable by the user.


-Harris Jones

In addition to her full-time position, Melanie spends a great deal of time and energy organizing seminars and webinars for the accounting community. We don't thank her nearly enough for all of her hard behind-the-scenes work to make these events so successful !



Melanie is an accomplished business valuator. 


- Colin Walker of Crosbie & Company Inc.

Melanie, is a great business valuator that provides information that is easy for everyone to understand. Clients having a good understanding of the valuations, allows them to make great decisions!


- John Williamson of Fairmore Family Law Financial Solutions

I have worked with tech start-ups in the Toronto & the Bay Area for valuation requirements needed for pricing stock options, 409a’s, share transfers, etc. This was my first time working with Kalex Valuation. Melanie Russell was able to understand our business model and valuation requirement fairly quickly, and guided the engagement with the depth of her business experience. Her Team Lead led the research and analysis to deliver a comprehensive, fair, and accurate report, effective for our use, and at a cost which was efficient too. Melanie was recommended to us by our business accountant of 25+years, and I would recommend the team at Kalex Valuation to others as well.

- Linda L. 

Kalex Valuations Inc. as independent Valuators and accountants calculated the fair market value of the school, with Mr Nick Rotundo as the principal valuator and liaison officer.

They conducted the process in a professional manner with timely analysis and input. We thank them and recommend their professional services.

- P. Qizilbash

We required a business valuation for our company. The expertise and service from Kalex was excellent. The staff was very professional and produced a comprehensive and detailed valuation report. It was a pleasure working with them and I would recommend their services. 


- CFO, large private label manufacturer in the health beauty industry 

It was a pleasure working with Nick. Very professional and thorough and most responsive to any questions. It was a pleasure working with your firm.


- Lance Hamilton 

In addition to her full-time position, Melanie spends a great deal of time and energy organizing seminars and webinars for the accounting community.  We don't thank her nearly enough for all of her hard behind-the-scenes work to make these events so successful



CFO, large private label, Accounting

Very professional work from beginning to end, will recommend if opportunity arises in my network for services you offer (saw on your website).


- Jonathan Zhao 

In the times I have retained Kalex Valuations for a project, I have been consistently impressed with their expertise, diligence, and service.  Having engaged with valuators for over three decades, I have come to understand the difference between “template completers” (of which there are far too many) and those who excel at understanding a business and providing the essential analysis to determine true value.  I have been in the position to judge separate valuations of a single business by large international firms and Kalex, and Kalex has consistently had more thorough valuations that have proved more accurate in hindsight, all at a significantly lower cost.  Kalex is without peer in providing valuations that combine excellence and service.  I recommend them strongly to anyone looking for sophisticated valuations.


- David Jennings, Lawyer and Businessman

“The opposing counsel was going to contest the valuation but, when they saw who produced it, they backed right off. Your firm has a reputation in the industry as the gurus of intellectual property valuations.  We are very close to settlement; they have to do their own valuation and are trying to negotiate, but it looks like my client is going to win. He is ever so grateful for the referral —your firm rocks!”


- Ted Pollock CPA CA, CFP

“We had a case conference and the opposing lawyer insisted that the information Melanie wanted was not relevant, however, the judge knew her professionally and made it clear over and over again that anything she requested now would have a lot of weight attached on any motion. 

The way the judge praised Melanie in front of everyone—I have never seen anything like it in 40 years. Thanks again!"

- Sam Laufer J.D. B.A. C.Arb  C.Med

"Thank you for your work on this case.  Your testimony was reflective of the high standard of work you consistently deliver.  I expect the judge agrees with me, based on her response to my closing submissions yesterday."

- Ross Milliken, Barrister and Solicitor

"We recently required a valuation of one of our larger clients for an employee share sale. The Kalex professional were thorough and prompt in their assistance in getting the job done."

- Bob Gore, Robert Gore & Associates CPAs, CAs

"Melanie and Raymond completed three business valuation reports on a relatively tight timeframe. Their professionalism and client service is exceptional and I appreciated their willingness to discuss any questions and concerns promptly to keep the engagements moving forward smoothly.


I’d highly recommend Kalex for any valuation assistance and will be working with them going forward!"

- Ruben Breteler, Director of Finance, SLANG Worldwide

 Melanie is a force of nature that one must step back and just marvel at the positive creative energy she brings to each and all her client and peer commitments and engagements. The words I believe best describe Melanie are COLLEGIAL, EFFICIENT, INSIGHTFUL, and REPUTABLE.

I am proud to call Melanie Russell a professional colleague, teacher, mentor and most importantly - a friend. I know that our industry is much better because of her commitment to its continuation and success.

- Peter J. Merrick aka The King of Main Street 

I contacted Melanie through a trusted referral for a time-sensitive engagement.  She delivered a quality product on time and on budget.  I would recommend Melanie and her team without reservation to those in the market for high touch, efficient and effective valuation expertise

-Darren Sissons, Senior Manager,  Campbell Lee & Ross Investment Management Inc.

It was a positive experience working with Melanie and Keir, the email exchange were timely and they were very easy to communicate.

-Shelly D. 

I was introduced to Kalex Valuations through my accounting firm.  I required a business valuation for a legal issue and Melanie Russell and her team did a thorough job on a tight timeline. 

When I needed guidance on more complex issues with the valuation, I was able to get the proper direction and support that I needed.   I would recommend Kalex Valuation for their business valuation services.  

-Bob Downey, Downtown Copiers

Melanie and her team at Kalex developed a very strong valuation model for our multi-billion dollar project.

Kalex's valuation was later confirmed by other international valuation experts.

Melanie is an excellent business valuator.

-John Kourtoff, Trillium Power Wind Corporation 

Melanie Russell is excellent in every way - her intelligence, her curiosity, her experience, her eloquence - a must-hire when you need a valuator. 

-Russell Bennett , Cannabis Law, Barristers & Solicitors 

I appreciated your review of the valuation of our company. Both Nick and Melanie provided a thorough review of our organization and a very justifiable valuation in which we have confidence.  Thank you for your efforts.


Nicola Elkins

The team at Kalex is always extremely professional and they understand the needs of our clients. We have been working with Kalex for years now with many of our clients having their business valuation conducted with them. Looking forward to continuing to work with them well into the future.

-Joanna Phillips

Thanks to Melanie for her super fast turn around reviewing the report. I’m very grateful.

-Lisa LaBerge 

Kalex Valuations Inc. provided valuation services for our company in 2003.  Melanie Russell did a very good job for us then.  We thought of Kalex when we needed a current valuation and this time Nick Rotundo performed the valuation.  He did a very thorough and professional job, was great to work with, was efficient, and easy to communicate with.  I would highly recommend Kalex Valuations.

-Lawrence Senders, Pharmasystems Inc.

The service provided by Kalex Valuation has been excellent. The technical knowledge from both Melanie and Kevin provided us with the reassurance that we were in the right hands. They were able to help us by simplifying what seems like a daunting component to our project and delivering within our tight timeline. It has been a pleasure!


-H. Young, Pacific Smoke International Inc.