04 · VALUATIONS

The number behind the decision.

Business valuations, purchase price allocations, financial modelling, and litigation support for transactions and disputes.

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WHAT WE DO

Valuation services.

Every major business decision — selling, buying, restructuring, resolving a dispute, or planning an estate — depends on knowing what something is worth. Cedar Group's valuation practice provides independent, defensible valuations that hold up under scrutiny.

Business Valuations

Fair market value determinations for private companies — for transactions, tax planning, shareholder disputes, and estate purposes.

Financial Modelling

Custom financial models for forecasting, scenario analysis, and decision support — built for your specific transaction or planning engagement.

Purchase Price Allocations

Allocating the purchase price in an acquisition across tangible assets, intangible assets, and goodwill — as required for tax and financial reporting.

Goodwill Impairment Testing

Annual goodwill impairment assessments for companies that have completed acquisitions — required under IFRS and ASPE.

Shareholder Disputes

Independent valuations for buy-sell disputes, minority shareholder oppression claims, and matrimonial proceedings.

Estate & Gift Planning Valuations

Fair market value determinations for estate freezes, gifts of shares, and intergenerational transfers — built to withstand CRA review.

M&A Valuations

Pre-transaction valuations for buyers and sellers — including fairness opinions, synergy analysis, and deal-specific valuation adjustments.

LED BY

VMVabby

Vabby Makkar

Valuation Principal

CPA, ABV, CBV

Vabby leads Cedar Group's valuation practice with credentials from both the American Institute of CPAs (ABV) and the Canadian Institute of Chartered Business Valuators (CBV). His valuations support transactions, disputes, estate planning, and tax structures across Cedar Group's client base.

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CASE STUDIES

What recent Valuations engagements look like.

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Healthcare

The Valuation That Made the Estate Freeze Defensible

A dentist was completing an estate freeze — locking in the current value of his four professional corporations so his future tax and estate exposure would be capped at today's value. The freeze required a fair market value determination for each corporation as of the freeze date. If CRA later challenged the valuation, the entire freeze structure could be retroactively unwound.

RESULT

All four valuations completed before the freeze date. Estate freeze implemented on defensible values. Tax plan built on solid ground.

Manufacturing

The Business Valuation That Determined Whether to Sell

A manufacturing business owner had received an unsolicited offer to buy his company. The offer sounded high — but he had no idea what his business was actually worth. Without an independent valuation, he could not tell whether the offer was generous, fair, or low.

RESULT

The owner discovered the unsolicited offer was 15% below fair market value. He renegotiated and closed at a higher price.

Healthcare

The Purchase Price Allocation That Saved the Buyer $400K in Tax

A national dental chain was acquiring a dental practice for $10 million in a hybrid share-and-asset deal. The purchase price needed to be allocated across tangible assets, intangible assets, and the share component. How the price was allocated directly affected how much tax both the buyer and seller would pay.

RESULT

Purchase price reallocated to shorter-lived intangibles. Buyer's present-value tax savings of $400,000 over ten years.

WHAT CLIENTS SAY

★★★★★GOOGLE

“Vabby provided exceptional support during the development of our business plan. His professionalism, strategic mindset, and structured approach made a significant difference. What stood out most was his ability to simplify complex business concepts while maintaining a very high professional standard.”

Ustora Team

Rania & Itab

Have a situation like this?

Every engagement starts with a no-obligation 15-minute introductory call.

HOW IT WORKS

How a valuation engagement works.

Every valuation begins with understanding the purpose — because the purpose determines the approach. A valuation for an estate freeze has different requirements than a valuation for a shareholder dispute or a purchase price allocation.

DEFINED SCOPE

We start with a formal engagement letter that defines the scope: the entity being valued, the valuation date, the standard of value, and the intended use. We then review your financial statements, normalize the earnings, analyze comparable transactions, and build the valuation model. You receive a draft report for discussion before we finalize.

DELIVERY

The final report is a formal, defensible document that can be presented to the CRA, a court, a buyer, or a co-shareholder. When the valuation supports a tax engagement, we coordinate directly with the tax team so the numbers flow through to the structure.

Talk to a valuation advisor.

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