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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 Kalex Valuations Inc. Kalex worked on our company valuation report.


I feel confident in recommending Kalex's services.


They were 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.

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 Kalex. 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  her team, 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. Melanie and her team 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. Melanie and her team 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.

I have had the pleasure of working with Melanie in various capacities, projects and engagements. Melanie is an extremely high qualified expert in the area is Business Valuations & Finance. Melanie is a pleasure to deal with, highly skilled, caring, and someone who consistently gives back to the community. I trust Melanie, have referred her to clients & colleagues, and highly recommend her. 


-Bruce Singer, CPA, CA

“I just finished working through your Wolters Kluwer seminar on valuations.

I must tell you that in my view, it was exceptionally well done!

I started down the CBV route many years ago, and then 'life happened' - but I have 'dabbled' in the field enough to know when someone 'knows their stuff'  -- and you certainly do know!”

- Bill Farrar

I had the pleasure of working with Melanie Russell and the team at Kalex Valuations in my role as executor of an estate that included an ongoing mid-sized business. I found the experience extremely positive. Melanie herself is knowledgeable, responsive and thorough. She was very helpful in guiding me through the process, which was new to me. The final report was comprehensive and on point. More importantly, the level of service and responsiveness was outstanding throughout the process. I highly recommend Kalex and would not hesitate to work with them again in future.


-Len Kahn

We engaged Kalex Valuations for both Valuation and Quality of Earnings engagements. Melanie and her team provided thorough analysis and excellent service.

They were professional, produced quality products on a timely basis and a pleasure to work with. I would recommend them to anyone looking for Valuation or Quality of Earnings services regardless of the size and complexity.

-CEO of a large financial services company

I recently had the pleasure of working with Melanie Russell from Kalex Valuations Inc. I found myself needing to undergo a review of both my business and personal finances for the past three years and  Melanie certainly assisted me by  clearly providing details on all the information that was required to complete this document / report. Melanie is very organized, very professional, and pleasant to work with.
I would highly recommend Kalex Valuations Inc. and I would certainly work with them again in future, thank you Melanie for your support during this task!

-Michael Prufer, Director

Karmichael Group of Companies

Just a brief note to comment on how satisfied I was with the valuation services provided by the team at Kalex.   Lead by Melanie Russell, the team was diligent, thorough, timely and completed their work  within pre-agreed budget parameters.  This recent valuation (April 2022) concluded my second engagement with Kalex (the first being  November 2015.)   I am happy to refer the services of Melanie and Kalex to others in need of valuation services.

-Silvio Dallan, President 

Silmar Management Inc.

Kalex Valuations provided a fair and accurate report.  Melanie and her team were highly professional and we found the entire process
to be a smooth and thorough one.   It was a quick turnaround as well, which was greatly appreciated.  We will definitely consider
Kalex Valuations in the future and will totally recommend your services.


-Daniela Fiocca

Melanie and her team surmounted my expectations while serving my valuation needs. The team demonstrated care and compassion during the valuation process, and I would highly recommend their services.

-Benita Canulli

We engaged Kalex for a business valuation report and were very satisfied with the results.  The Kalex team's experience was invaluable throughout the process.  Their professionalism, organization, and attention to detail were apparent in the results.  We highly recommend their services.

-James, Adeptronix Inc.

We reached out to Kalex for an urgent valuation report for our company. Melanie’s ability to accommodate our needs was outstanding and her diligence was evident throughout the process. We are really appreciative of Kalex’s quick turnaround on our valuation report to support our tight deadline.

-Zina Rahman

Transitional Forms Inc.

I interviewed a number of business evaluators before choosing Melanie and her team at Kalex. I am happy that I did. Their process was detailed and clear, Melanie was very efficient and the report that I received in a timely manner was comprehensive and exactly what I needed.

-Thomas Neuspiel

Persident/Creative Director at

Toast + Jam

It is always a very smooth process when working with Kalex on business valuations. They are professional, responsible, friendly and detail oriented.
We appreciate their assistance with our engagements and are very comfortable recommending their services.


-Nicholas Tomec, CPA

Partner, I&A Professional Corp.

I had a chance to work with Kalex Valuations Inc to get a valuation report done for my business and was very impressed with the competence that Melanie and her team has. The report was very comprehensive and easy to understand, and I was very satisfied with the outcome.

-Ottmar Brandau

President, Pet All Manufacturing Inc.

The team at Kalex performed excellent service for my business valuation needs. They worked seamlessly and were fast in delivering efficient results.
I would definitely recommend their services.


-Waldek Sikorski

President, Fantastic Cleaning Ltd.

I worked with Kalex when I needed to have my company’s valuation done and was amazed at how smooth the process was. Their valuation service was fast, fair and accurate.
I remembered Melanie doing a good job on the valuation of another company for me over a decade ago and I was very happy to see the same professionalism this time as well. I would highly recommend their services.


-Anonymous from a big ERM firm

I required some urgent valuation work and retained Kalex Valuations. Melanie and her team were a pleasure to deal with. Their work was completed in a meticulous, expeditious, and professional manner. I would highly recommend their services.

-Reg MacQuarrie

Melanie and her staff did an exceptional job preparing a valuation report for my client’s company. The work was done expeditiously, on budget, and Melanie took the time to explain the concepts I was not familiar with.  I have found her to be highly experienced, intelligent, and an ethical individual. Thanks Melanie and staff for looking after us.

-Rocco Sgambelluri, CPA, CA

We engaged Kalex for a business valuation report and the process was smooth as it was handled in a professional and organized manner. They guided us through the whole process and were very supportive in answering all our queries. We would definitely recommend their services.

-Wesley J. Neichenbauer, CPA, CA

Co-President, Rowntree Enterprises Inc.

We availed ourselves of Kalex’s services to prepare a valuation report for our Company. Their expertise has helped us in making sound decisions for our business and we greatly appreciate their services.

-Irene Fontana, ITC Electrical Components 

The services performed by Kalex on our two valuation reports were excellent and were well supported by their thorough process. It was a pleasure working with Melanie and her team once again.

- John Karram, CPA, CA, LPA

Our Valuation is complete and we would like to say we were very happy with Kalex Valuations Inc. They are professional, prompt, and have great communication! We would highly recommend them to obtain your valuation.

- Anne Noble, Lake Simcoe Parklands Limited

I can't speak highly enough about my experience with Kalex Valuations. They provided a reliable, accurate, and quick valuation service. Their team of experts displayed a profound understanding of the market, industry trends, and financial metrics, resulting in a comprehensive and precise valuation for my companies. 
Kalex Valuations' dedication to excellence and attention to detail truly impressed me. They went above and beyond to ensure I understood the valuation process and the factors influencing my company's value. Their transparent and professional approach instilled confidence in me throughout the entire process. I highly recommend their services to any business owner or investor seeking an accurate and dependable valuation. 

-Areez Remtulla

Our dealing with Kalex Valuations was a positive experience. The team worked on our valuation report and provided us with great results that helped us finalize our business transaction.
It was a pleasure working with them. I highly recommend their professional services.


-Jennifer Gannon 
Proprietor, BonaVista LeisureScapes 


Kalex Valuations provided us with a smooth and hassle-free service. They crafted an excellent valuation report that fulfilled our requirements. They were professional and competent in every stage of the collaboration. We highly endorse their work.

- George D. Sass, Benny Bullys 

Our company has used Kalex for corporate valuations needed for merger purposes. We have used them twice. We returned to Kalex because of their professionalism and completeness of the valuations. Great presentation.

- Pierre Beaumier, President at CanAlt Health Labs 

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