Business Valuation


Beacon Valuations is a Toronto based professional business services firm that provides a full suite of business valuations for business owners and managment.




Beacon Valuations focuses on supporting clients by providing various business valuation services to privately-held companies across Canada and internationally.
We conduct our business valuations under the Chartered Business Valuation Institute (CBV Institute) valuation standards, and the International Valuation Standards Council (IVSC) valuation standards.
Our team of business valuation professionals provides business owners, C-suite executives, management and investors with a diverse range of business valuation and related services.
Our multidisciplinary approach to business valuations allows us to match our client’s business valuation requirements to our wide array of professional experiences to derive a value conclusion that is well supported and well thought out.

Transaction Services​

Business Valuations for transaction services provide an indication of the notional Fair Market Value of the business prior to market entry. They support negotiations identifying value drivers in order to arrive at a negotiated price of the planned transaction.

Financial Reporting Purposes

Financial Reporting business valuations derive the Fair Value of Intangible Assets and Goodwill to establish them for Purchase Price Allocations. Impairment testing is undertaken for the Goodwill and indefinite Life Intangible Assets to assess if a charge needs to be applied to reduce the carrying value to its deemed Fair Value.

Tax Purposes

Business Valuations prepared for Tax Purposes use Fair Market Value to affect an estate freeze of existing shares or a rollover of qualified assets for a corporate reorganization. Valuations are undertaken to provide support to the accountant’s application for tax disclosures.

Internal Use Purposes

Firms that actively manage their corporate strategy need to measure the success of the strategy’s implementation, a measurement which allows management to assess how the business value has changed from one period of time to another.

Litigation Purposes

As part of litigation proceedings, a business valuation is undertaken to quantify value of the underlying asset in dispute. An independent business valuation provides support to the courts in understanding the complexity of the value of assets.

How We Do It

Combining Processes, People & Technology​

Seasoned Professionals

The Beacon Valuations team includes seasoned business valuation professionals who come from a diverse range of experience and business backgrounds. Our valuators join us from accounting, real estate, corporate, and legal industries.

Technology-Driven Practice

At Beacon Valuations, we believe that there are better, more efficient ways of serving our client’s time and resources. We employ the latest technology in all areas related to confidentiality, valuations, marketing, and financial disclosure.

Advanced Valuation Assessment

We utilize sophisticated quantitative methods, advanced algorithms combined with historical market transaction information, and dozens of data touchpoints to assess the sellability of a business and its value.

Global Valuations

Confidentiality is at the heart of each of our business valuation mandates and every step of our process. We use secure and encrypted data rooms to store our client’s financial information.

Global Valuations

The team at Beacon has completed business valuations in Canada, United States, Europe, Africa, Asia and the Middle East. We provide business valuation services to global clients through remote services or on site as required.

Cutting Edge Processes

We employ research and market data methodologies that allow us to generate a well supported business valuation based on the latest market data and macro economic conditions.

Our Track Record

Mid-Market Companies and Business Owners
Since 2008

Combined Client Revenue of Completed Engagements
$ 2 B
We have assisted clients in a wide range of industries and sectors with revenues ranging from 1 million to over 100 million.
Completed Business Valuation Engagements
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We utilize sophisticated quantitative methods that weigh multiple data points and market variables to assess a business’s value and determine its worth.
Value Estimate vs. Sale Price Achieved
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Beacon Valuations uses real time market data in its methodology which results in business valuation estimates that accurately match true market conditions.

Who We Are

Experienced Valuation Professionals

Our team of valuation specialists come with diverse experiences and backgrounds in valuation, banking, corporate finance, law, and real estate itself. This multidisciplinary approach allows our clients to benefit from decades of transactional knowledge, market-leading research as well as a large network of long-lasting relationships.

Steven Rayson



M. Will Fischtein



Clint Cronkite



Our Services

Professional Business Valuation Services

There are various situations when you may need a business valuator to assess your business. We provide professional business valuations for the following purposes:
We provide a business valuation assessment as part of our M&A services.
Business valuation is essential to mergers, acquisitions and divestitures. It helps a valuator advise on the timing of a sale, price expectations, and more.
  • Buy / Sell side valuation services
  • Corporate Finance – Capital (debt or equity)
We provide a business valuation assessment for initial Purchase Price Allocation, which would include Goodwill and Identifiable Intangible Assets, as well as annual Goodwill impairment reviews.
We provide a business valuation assessment for Management Internal monitoring  of strategy execution and its resultant value enhancement to the organization.
We provide a business valuation assessment for Quantification of Damages for Business Interruption issues. We appraise businesses for commercial litigation to aid those involved in any dispute. Including expropriation for determining the market value of a business plays an essential role in any expropriation process.
When a business owner is looking to buy out a shareholder, a business appraisal can help a buyer identify the appropriate costs. A management buyout occurs when a business’s management team buys the company’s assets and operations. A business appraisal helps a team to identify the value of a business’s assets and operations.
We provide business valuation services and assist with oppression or dissent remedies under the relevant federal/provincial Business Corporations Acts.
We prepare business valuations for tax purposes to streamline income tax processes and estate planning. We also offer business appraisal services for corporate reorganizations to help taxpayers redirect funds to a business. We can provide appraisal services in the case of an estate freeze or section 85 rollovers
A business valuation is essential for employees looking to invest in businesses offering ESOP.
We appraise businesses to advise on how to reorganize the company for maximum profit. Valuation is common when a business is under financial distress or looking to optimize its operations or performance.
Beacon valuates businesses to identify the value of a business’s interests, determine net family property, and generate income reports for support purposes.

Our Affiliations

What Our Clients Say

  • We engaged Beacon Mergers for a business valuation, and we were thoroughly impressed with the outstanding service we received. They delivered a high-quality report promptly, meeting our expectations and requirements. Not only did they address all our inquiries promptly, but they also provided comprehensive and accurate responses. The level of communication throughout the process was exceptional, ensuring a smooth and seamless experience. Without a doubt, we wholeheartedly recommend Beacon Mergers for their exceptional services.

    Arta Gallery Avatar Arta Gallery
    May 21, 2023

    I had a great experience working with Beacon right from the onset. Beacon helped me evaluate and sell my business and were incredible professionals to work with throughout the entire process. Both Will and Alex were always available to answer my questions, provide detailed explanations at every step, and assist me though all phases. Beacon found the eventual buyer of my company, negotiated the deal, and provided excellent support right through to closing. If anyone is considering selling their business I highly recommend Beacon.

    Nick Findlay Avatar Nick Findlay
    April 10, 2023
  • Very professional. They managed the process to help get the deal done. M&A is hard! Beacon has decades of experience with multiple buyers and sellers that they've seen everything so when stuff came up, as it inevitably does, they were calm, cool and collected which is what you need when emotions (and expenses) are running high. I would work with them again and recommend them to anyone looking to buy or sell a business.

    jon lewis Avatar jon lewis
    March 10, 2023

    Thanks to Beacon, we sold our business and couldn't be happier. The team is attentive and professional. They work tirelessly as needed to deal with prospective buyers. Their advice is on point, and their honesty is appreciated. We felt like we were in good hands during the entire process, from evaluation to final sale.

    Kelly Siskind Avatar Kelly Siskind
    February 10, 2023
  • I had a very positive experience working with Will and his associates at Beacon. From our very first phone call, Will answered all of my questions thoroughly without talking down to me, and offered helpful insights and advice. He and his team made themselves available when I wanted to talk, and their work was detailed and delivered in a timely manner.

    Marnie Rabinovitch Consky Avatar Marnie Rabinovitch Consky
    January 10, 2023

    Alex was very helpful and a pleasure to deal with. I highly recommend Beacon for anyone looking to buy or sell a business.

    Julian Di Lorenzo Avatar Julian Di Lorenzo
    December 10, 2022
  • We were very pleased with Beacon's services - they were very professional and responsive, helping us through the business valuation as well as the entire sell-side process. They identified a strategic buyer who was a great fit for our business and assisted in negotiating a transaction that worked for everybody. If you are looking for a professional business broker and advisor, I would highly recommend them.

    Igor Goldshtaub Avatar Igor Goldshtaub
    November 10, 2022

    We used Beacon Mergers & Acquisitions services to evaluate and sell our business. They found a buyer which was a perfect match, and helped us through the entire negotiations and sales process.

    Nimrod Geva Avatar Nimrod Geva
    November 10, 2022
  • Top of the line service by Will and Sven. Both of them took the time to answer any questions we had and follow up on any details needed. Very professional and punctual. Thanks again, pleasure working with these guys.

    Alex Ferris Avatar Alex Ferris
    November 10, 2022

    Positive: Professionalism, Quality, Responsiveness, Value. I have had the pleasure of trusting this great firm to handle the valuation of our company. They went above and beyond to explain the valuation process, provide insight, and complete the work within our tight deadline. I would highly recommend this company to anyone who is in need of a valuation. Thank you to the whole team for your excellent work!

    Ryan McLaughlin Avatar Ryan McLaughlin
    November 10, 2022
  • Had a fantastic and educational experience working with the Beacon team. Patient, exceptionally knowledgeable, and happy to share professional opinion and offer guidance. A well-made investment.

    Michael Shuster (FerroqueSystems) Avatar Michael Shuster (FerroqueSystems)
    September 10, 2022

    We had a pleasant experience working with Beacon. Will and Sven were able to complete our valuation within our tight time frame. They were very professional and knowledgeable.

    Lisa Sanders Avatar Lisa Sanders
    August 10, 2022
  • I had an amazing experience with Will from the first contact. I needed an evaluation of a company I am considering of buying, and he was very helpful through out the process. He took his time to understand my requirements, asked detailed questions from the Seller, and gave me a thorough brief at the end. I truly appreciated his professionalism and responsiveness, and highly recommend Beacon M&A.

    Michael Chidane Avatar Michael Chidane
    July 10, 2022

    I had an excellent experience with Will and his team at Beacon. Everyone was very responsive to my questions and the turnaround time for my valuation was great. I really recommend their team.

    Natalia J Avatar Natalia J
    May 10, 2022
  • Very professional and thorough. Would use their services again and refer them to other business as well

    Steven Rizzuto Avatar Steven Rizzuto
    May 10, 2022

    Wonderful experience. The entire team is extremely professional and knowledgable. I highly recommend them.

    Jonathan Psaila Avatar Jonathan Psaila
    May 10, 2022
  • The team at Beacon are professionals and took the time to understand my needs and the uniqueness of my business by asking LOTS of questions! I'd be happy to recommend their services.

    Scott Hutchings Avatar Scott Hutchings
    May 10, 2022

    We required an evaluaiton for our company to obtain share values , to remove a shareholder. Very professional , accurate and timely . Highly recomnended.

    Jewels Ramundo Avatar Jewels Ramundo
    May 10, 2022
  • I found dealing with Beacon was excellent. They asked all the right questions while being patient while I responded. I fully intend to continue interaction. Thanks to Mohor, Sanjna and Will for working with me, it is definitely worth it to a business owner to get a grounded perspective of a business' value.

    VEI Avatar VEI
    May 10, 2022

    It was a good experience dealing with Beacon. They were professional, thorough and met all expected timelines. I was impressed with the detail they provided and their understanding of our business. I would highly recommend them as a business evaluator.

    Mark Madigan Avatar Mark Madigan
    May 10, 2022

Our Deliverables

Valuation Reports

We are capable of issuing business valuation reports under the following standards, as required by our clients and the purpose of the work.

Calculation Valuation Reports

A Calculation Valuation Report is the lowest level of assurance under the CBV Institute standards spine the work is limited in scope and independent validation of data. This type of report is typically only used for purposes that are not litigious and have a low level of required assurance. When considering levels of assurance related to accountant-prepared financial reports, this type of report is similar to Compilation Engagement Reports (previously known as Notice to Readers).

Estimate Valuation Reports

An Estimate Valuation Report has a wider and deeper scope of work than a Calculation Valuation Report, but there is still a limited level of independent validation of data. This type of report is typically used for transaction services and engagements where a higher level of assurance is required. When considering levels of assurance related to accountant-prepared financial reports, this type of report is similar to Review Engagements.

Comprehensive Valuation Reports

A Comprehensive Valuation Report is the most detailed report under the CBV Institute standards, and this report requires independent validation of the material aspects of the valuation and the scope of work is the widest of the valuation reports. This type of report is typically used for litigation support purposes. When considering levels of assurance related to accountant-prepared financial reports, this type of report is similar to an Audit.
Under the IVSC standards, we prepare both the Valuation Report and the Valuation Review Reports. There are no specific standards for various levels of assurance in IVSC Valuation Reports. The standards simply state that the depth of coverage must meet the needs of the purpose of the report.

Past Clients, Mandates & Sectors

Our Clients
Past Mandates
Sectors Served

Frequently Asked Questions About Business Valuations

We are capable of issuing valuation reports under the following standards, as required by our clients and the purpose of the work.

For all Chartered Business Valuations, we issue our reports under the Canadian Institute of Chartered Business Valuators (CICBV)​ and International Valuation Standards (IVS).

For our Broker Opinion of Value reports we issue our reports under the practice standards of the
Real Estate and Business Brokers Act, 2002 Ontario Regulation 580/05

Are you thinking about buying or selling a business? Or are you a business owner trying to determine how much your business is worth? Before even thinking about buying or selling a business, it’s essential to have a professionally certified business valuation done. Having your business appraised will help you know what you are buying and help you come up with a fair price point for your business.

A Chartered Business Valuator (CBV) designation is the premier credential for professional business valuators in Canada.  CBVs are financial professionals who hold this designation granted by The Canadian Institute of Chartered Business Valuators (CICBV). They are nationally recognized as CBVs quantify the worth of all, or part, of a business or its securities. They have has the ability to determine the value of tangible and intangible assets, including brand and intellectual property, and then explain their rationale in an easy to understand manner.

The opinions of CBVs are respected and recognized by the courts of Canada in shareholder, partnership, securities, intellectual property and marital disputes, damage quantification, insurance losses, personal injury claims, patent infringement and breach of contract cases.

CBVs provide assistance in a number of areas including:

  • Notional valuations where a negotiated arm’s length transaction will not take place, in circumstances such as transactions between shareholders or related parties, transactions for taxation and corporate reorganization, and for transfer pricing and matrimonial purposes.
  • Financial litigation support activities in circumstances such as breach of contracts, insurance losses, patent infringements and personal injuries.
  • Corporate finance and transaction-based activities in circumstances such as financings, mergers and acquisitions, leveraged buy-outs, management buy-outs, buy/sell agreements, initial public offerings and the preparation of analyst reports and studies.
  • Regulatory areas where independent valuation conclusions are required by securities commissions and other regulatory bodies, in circumstances such as fairness opinions for public market transactions, going private transactions and non arms length dealings.
  • Strategic Planning purposes which include succession planning, preparing a business for sale and identification of value drivers, developing employee stock option plans.

The valuation of a business is a complex undertaking that requires specialized knowledge and abilities. The essential point to keep in mind is that value is determined by a complicated set of factors. For this reason, it is important to work with a valuation professional such as a Chartered Business Valuator (CBV) who is a valuation expert providing business valuation expertise in the areas of compliance, disputes and corporate finance, and skilled in selecting and applying the appropriate valuation methodology.

Very few individuals’ actually performing business valuations in the Middle East have earned a professional designation from a recognized professional organization certifying business appraisers.  Clients have historically, and still do, consider accountants as the competent requisite for valuing businesses.

When choosing a valuator, consider the credentials of the consultants upon which you will rely, including the practice standards to which they are bound.

Your business’s key value drivers are profit, management and employee base, dependence, and longevity. Learn more about these factors that valuators look at, as they directly indicate your business’s value:
  1. Profit: The primary goal of every business is to generate positive cash flow. Ultimately, the profit that a company generates will be the key value driver that determines its valuation. Beyond this, several other factors affect a company’s evaluation. Businesses are considered an ongoing concern, which is why, when valuing a company, it is essential to assess a company’s potential to generate future profits.
  2. Management & Employee Base: Businesses with high growth potential and positive industry outlook will trade at higher multiples as buyers are more willing to offer a premium for future profits. Additionally, a company with a lean cost structure or low owner dependence are also considered desirable.
  3. Dependence on Clients or Suppliers: Another factor that determines a company’s value is its economic moat. A company with a low threat from competition and high entry barriers is perceived to have a lower risk.
  4. The Longevity of the Business Model: Other factors that might impact valuation include pending litigation, management experience, revenue concentration, client base and supply chain. Experts will account for all these factors in their model assumptions to accurately value a company.

Through their comprehensive educational program and practical experience requirements, CBVs are specially trained to deal with the intricacies that can arise when valuing any type of business.

CBVs also have access to continuing education through regional workshops and national conferences that address current and evolving industry topics.  Many accountants also have their CBV designation.  A general distinction between the two professions is that CAs look at the past to create financial statements. CBVs look to the future to determine what is most likely to happen and place a value on that.

Those engaging a CBV benefit by working with a professional who is a member of a recognized national body, the CICBV.  The CICBV has firm Standards of Practice that help to ensure the quality and consistency of the work performed by CBVs across Canada, as well as a Code of Ethics by which all CBVs must abide.  The standards of the CICBV fall within those standards of the International Valuation Standards Committee (IVSC).

CBVs are often engaged to act as an independent expert or assume an advisory role. CBVs also work in conjunction with other professionals such as lawyers, accountants and tax specialists.

Many factors can affect a business’s evaluation. Most people just care about sales and profit margins, but there is a lot more involved. There is no one-size-fits-all process for valuing a business, as every industry is different. Our professional business evaluators look at many other factors, including (but not limited to):
  • How long has the company been in business?
  • What has their growth or decline looked like over their history?
  • What does the competitive landscape look like (lots of small competitors, a few large competitors, niche business, etc.)?
  • What assets does the company currently own (inventory, property, personnel, vehicles)?
  • How much debt does the company have, and who owns the debt?
Putting together a business valuation is a detailed and arduous task. If you are considering buying or selling a business, it is in your best interest to have your business appraised by a business valuation firm like Beacon Valuations.

Business Valuation is as much art as science. Yet business valuation is also a highly technical field. The ability to judge which valuation method is best suited to a company’s needs and apply it to get an accurate picture of value requires experience and skill. Relying on a value determined by someone who doesn’t have this expertise can lead to unpleasant surprises. Get to know the basics of what goes into a good valuation report so you can make well informed decisions about your valuation needs. Independence is another important criterion.

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