What Evans & Evans does

Evans & Evans, Inc. is a privately held boutique financial advisory firm founded in 1989 by Michael A. Evans and headquartered in Vancouver, British Columbia, Canada. The firm provides corporate financial advisory services including business valuation, mergers and acquisitions advisory, capital formation, business planning and feasibility studies, and financial due diligence. Its client base comprises private and public companies, with a notable concentration of mandates involving cross-border transactions between Asia-Pacific markets and North America, particularly Chinese SMEs pursuing listings in Canada.

The firm operates from three primary Canadian offices (Vancouver, Toronto, Calgary) and maintains a network of senior international advisors in eight additional cities: Shanghai, Hong Kong, Beijing, Sydney, Melbourne, Phoenix, and Victoria. Evans & Evans is a designated Chartered Business Valuator (CBV) firm, with professionals holding CFA, ASA, CBV, and other advanced credentials. The firm reports having served more than 3,500 clients across six countries over its operating history, supported by a team of approximately 25 named professionals. It has received external industry recognition, including International Business Brokers Association awards to a senior professional.

The business model is engagement-based professional services, with revenue generated from fees on valuation reports, M&A advisory mandates, capital formation transactions, and due diligence assignments. The firm relies on mainstream third-party financial databases and analytics platforms (Bloomberg, S&P Capital IQ, Factiva, LexisNexis) to support its advisory work. The firm does not disclose revenue, headcount trends, or financial details publicly, consistent with a privately held professional services partnership. There is no evidence of external funding events, acquisitions, mergers, or proprietary technology development across the firm's 33-year operating history.

Name

Evans & Evans

Legal name

Evans & Evans, Inc.

Website

https://evansevans.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Evans & Evans is a Vancouver-based boutique financial advisory firm founded in 1989, providing valuation, M&A, capital formation, and due diligence services to private and public companies across Canada and Asia-Pacific, with ~25 professionals and a senior international advisor network.

Ownership category

akta.pro rank

Product category

Corporate Financial Advisory

NAICS

Investment Banking and Securities Intermediation (52315), Management Consulting Services (54161), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA)

akta.pro secondary industries

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Corporate Strategy Advisory (BPAHADAA), Fairness Opinions & Independent Financial Advice (BPAHAOAF), Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF), Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)

Keywords

• Mergers acquisitions advisory
• Business valuation services
• Capital formation advisory
• Corporate financial advisory
• Due diligence services

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Valuation services fees: Engagement-based fees for valuation reports, fairness opinions, fair value for financial statements (including purchase price allocation and intangible asset fair value), goodwill impairment testing, complex securities valuation, and litigation support. Prepared in compliance with the Canadian Institute of Chartered Business Valuators and the American Society of Appraisers.
2. M&A advisory fees: Buy-side and sell-side M&A advisory fees, including retainer/success-fee style compensation, for services covering strategic objectives, risk analyses, target identification/screening/solicitation, valuation and due diligence, post-transaction strategy, deal negotiation/structuring, and closing management.
3. Capital formation advisory fees: Engagement-based fees for capital raising mandates: private placements of debt and/or equity, IPOs and reverse mergers, SPAC/CPC formation and Qualifying Transaction execution, go-private transactions, joint ventures, leveraged and management buy-outs, corporate divestitures, and bank/government financing. Work performed alongside registered registrants as required by securities laws.
4. Business planning advisory fees: Project-based fees for strategic and tactical business planning: development of action-based strategies, comprehensive business plans and financial projections, pitch decks, teasers, briefing notes, and other marketing materials; plus review/advisory on existing plans.
5. Due diligence engagement fees: Engagement-based fees for the four-pillar due diligence product (Technology/Services/Products; Management/Personnel; Markets/Marketing; Financials/Plans), with a customized scope of work per mandate.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Evans & Evans delivers a unified suite of corporate financial advisory services to businesses globally. The firm provides Valuation Services (including fairness opinions, fair value for financial statements, goodwill impairment testing, and complex securities valuation), Mergers & Acquisitions advisory (buy-side and sell-side), Capital Formation (private placements, IPOs, reverse mergers, SPAC/CPC formation, go-private transactions, joint ventures, and buy-outs), Business Planning, and a comprehensive four-pillar Due Diligence service. Engagements are scoped per client, executed by senior practitioners, and coordinated with capital-markets registrants as required by securities laws.

Product overview

Evans & Evans delivers a unified suite of corporate financial advisory services — not a software product or platform-plus-modules architecture — composed of five integrated service lines: Valuation Services, Mergers & Acquisitions, Capital Formation, Business Planning, and Due Diligence. These services are designed to be customized and integrated to meet the requirements of any given transaction, supported by three resource packages (Go-Public, Go-Private, and M&A Advisory decks) that present the firm's capabilities to prospective clients. Since 1989, the firm has combined the global reach of a large investment bank with the senior-level involvement of a boutique firm to serve clients across diverse sectors including Technology & FinTech, Natural Resources & Energy, Financial Services, Health Sciences & Biotech, Consumer & Retail, and Media.

Differentiator

Problem solved

Functional benefit

Products and services

• Valuation Services
• Mergers & Acquisitions (M&A) Buy-side and sell-side M&A advisory supporting clients at all stages of the merger or acquisition process, including developing strategic objectives, conducting risk analyses, identifying and screening targets, determining value and conducting due diligence, developing post-transactional strategies, negotiating and structuring the deal, and managing the closing.
• Capital Formation Advisory service combining the global reach of a large investment bank with senior-level boutique involvement to help organizations establish efficient channels for debt and equity capital. Services include private placements of debt and/or equity, IPOs or reverse mergers, formation of SPACs/CPCs and Qualifying Transaction execution, go-private transactions, joint ventures, leveraged and management buy-outs or corporate divestitures, and bank and government financing.
• Business Planning Strategic advisory service assisting managers, business owners, and decision-makers in developing action-based strategies, comprehensive business plans, financial projections, and supporting documents such as pitch decks, teasers, and briefing notes to meet the needs of investors and lenders.
• Due Diligence Comprehensive due diligence service that widens the scope beyond traditional financial review by examining four essential areas: Technology/Services/Products, Management/Personnel, Markets/Marketing Plans, and Financials/Financial Plans. Engagements include site visits, data compilation, product/service analysis, revenue and earnings pattern assessment, and organization/compensation evaluations.
• Go-Public Advisory Package Presentation deck and supporting material covering Evans & Evans's go-public advisory services for companies pursuing an initial public offering or listing transaction.
• Go-Private Advisory Package Presentation deck and supporting material covering Evans & Evans's go-private transaction advisory services.
• M&A Advisory Package Presentation deck and supporting material covering Evans & Evans's buy-side and sell-side merger and acquisition advisory services.

Quantifiable outcome

• 3,500+ clients served since 1989
• +4 more outcomes

Named customers3 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Premier global registrants (investment banking firms, funds, and individual investors)coreChannel Partner/ Reseller/ DistributorEvans & Evans works alongside 'premier global registrants including investment banking firms as well as funds and individual investors' to deliver capital formation engagements (private placements, IPOs, reverse mergers, SPAC/CPC formation, go-private, joint ventures, leveraged/management buy-outs, and bank/government financing). The firm is explicit that capital-formation work is done 'with registrants as required by securities laws.' No specific registrant names are publicly disclosed.
• First Marathon SecuritiesminorOthersSenior Advisor Robert Wilson held senior positions at First Marathon Securities as part of a 35-year career in investment banking and venture capital. Mentioned as a former employer; not an active commercial partnership.
• BMO Nesbitt BurnsminorOthersSenior Advisor Robert Wilson held a senior position at BMO Nesbitt Burns. Mentioned as a former employer; not an active commercial partnership.
• Credit Suisse GroupminorOthersSenior Advisor Blair Jordan worked at Credit Suisse Group for nearly ten years in Leveraged Finance/Restructuring, Principal Investing, Special Situations, and Convertible Bonds roles. Mentioned as a former employer; not an active commercial partnership.
• Echelon Wealth Partners Inc.minorOthersSenior Advisor Blair Jordan was Managing Director at Echelon Wealth Partners Inc. for six years, heading investment banking on the West Coast of Canada. Mentioned as a former employer; not an active commercial partnership.
• Bennett Jones LLPminorImplementation/ SI/ Consulting PartnerSenior Advisor Blair Jordan was previously a corporate and securities lawyer with Bennett Jones LLP. Mentioned as a former employer; not an active commercial partnership.
• Haywood Securities Inc.minorOthersSenior Advisor John Meekison specialized in life-sciences and technology investment banking at Haywood Securities Inc. Mentioned as a former employer; not an active commercial partnership.
• Dlouhy Merchant Group Inc.minorOthersSenior Advisor John Meekison previously worked at Dlouhy Merchant Group Inc. Mentioned as a former employer; not an active commercial partnership.
• Pacific International Securities Inc. (now PI Financial Corp.)minorOthersSenior Advisor John Meekison specialized in life-sciences and technology investment banking at Pacific International Securities Inc. (now PI Financial Corp.). Mentioned as a former employer; not an active commercial partnership.
• Pettinelli Mastroluisi Valuations Inc.minorImplementation/ SI/ Consulting PartnerSenior Manager Elaine Liu held a valuation and consulting role at Pettinelli Mastroluisi Valuations Inc. prior to joining Evans & Evans in 2025. Mentioned as a former employer; not an active commercial partnership.
• RSM CanadaminorImplementation/ SI/ Consulting PartnerSenior Manager Elaine Liu held a valuation and consulting role at RSM Canada prior to joining Evans & Evans in 2025. Mentioned as a former employer; not an active commercial partnership.
• University of Toronto – Rotman School of ManagementminorOthersSenior Manager Elaine Liu is an alumna of the Rotman School of Management. Mentioned as a former educational institution; not a commercial partnership.
• Deloitte Financial Advisory Services India Pvt. Ltd.minorImplementation/ SI/ Consulting PartnerSenior Analyst Harinder Pal Singh worked at Deloitte Financial Advisory Services India Pvt. Ltd. before moving to Canada. Mentioned as a former employer; not an active commercial partnership.
• Knowcraft Analytics Pvt. Ltd.minorImplementation/ SI/ Consulting PartnerSenior Analyst Harinder Pal Singh worked at Knowcraft Analytics Pvt. Ltd. (India) before moving to Canada. Mentioned as a former employer; not an active commercial partnership.
• Duff and Phelps Corporation (Kroll Valuation Advisory Services)minorImplementation/ SI/ Consulting PartnerSenior Analyst Megha Issar worked with Duff and Phelps Corporation (Kroll Valuation Advisory Services) before joining Evans & Evans. Mentioned as a former employer; not an active commercial partnership.
• Charles Thomas & Partners / CT VenturesminorStrategic or Co-development PartnerSenior Advisor Christopher Wong is Managing Partner at Charles Thomas & Partners and General Partner of CT Ventures, with 30 years of Asia investment banking experience; his affiliation with Evans & Evans provides an Asia-based senior advisory relationship for cross-border mandates.
• Gordian Global SolutionsminorStrategic or Co-development PartnerSenior Advisor Tracey Penington is Founder and Managing Director of Gordian Global Solutions, an innovation and business transformation firm. Her affiliation with Evans & Evans provides senior advisory coverage in Australia and the Asia-Pacific region.
• TCT Environmental / TCT Capital / TCT GroupminorStrategic or Co-development PartnerSenior Advisor Gerald Page is Managing Partner of TCT Environmental, Senior Partner of TCT Capital, and advisor to the Board of TCT Group (Taiwan), supporting renewable sustainability and emerging markets coverage.
• HighMont Advisors Inc.minorStrategic or Co-development PartnerSenior Advisor Blair Jordan is Managing Director of HighMont Advisors Inc., a management consultancy firm, providing additional cross-border M&A and corporate strategy capacity.
• Coastal Hydropower CorporationminorOthersSenior Advisor Neil Anderson is currently acting as the President and Director for Coastal Hydropower Corporation. Mentioned as a current portfolio/advisory role, not a commercial partnership.

Scale indicators8 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Origin Merchant Partners: Toronto-based boutique independent investment bank focused on M&A advisory and capital markets for mid-market Canadian companies; directly comparable as a senior-led boutique competing for the same mid-market M&A and capital-formation mandates that Evans & Evans targets.
• PI Financial Corp: Canadian boutique investment dealer providing investment banking, equity research, and institutional sales; directly comparable in capital-formation and go-public advisory work for small-cap Canadian issuers, the same niche Evans & Evans serves with its CPC/SPAC and reverse- merger mandates.
• Haywood Securities: Vancouver-based boutique investment dealer active in mining, energy, and life-sciences; directly comparable to Evans & Evans's mining, energy, and biotech sector coverage, and a former employer of one of E&E's senior advisors, evidencing the shared talent pool.
• Dlouhy Merchant Group: Montreal-based boutique M&A advisory firm focused on Canadian mid-market transactions; a direct peer for buy- and sell-side M&A mandates and a former employer of one of Evans & Evans's senior advisors, underscoring shared competitive positioning.
• Mackie Research Capital: Toronto-based independent investment dealer focused on small- and mid-cap institutional sales, trading, and investment banking; a direct peer for Canadian small-cap capital-formation and go-public mandates, and a former employer of one of E&E's senior advisors.

Broad incumbents

• Echelon Wealth Partners: Toronto-based independent investment dealer offering capital markets, advisory, and wealth services; a broader incumbent whose West Coast investment-banking franchise (formerly led by an E&E senior advisor) overlaps directly with Evans & Evans's M&A and capital-formation work.
• Kroll (formerly Duff & Phelps) Valuation Advisory: Global valuation-advisory practice specializing in business valuation, complex securities, and goodwill impairment; a direct peer for Evans & Evans's valuation, fairness opinion, and complex-securities services, and a former employer of one of E&E's senior analysts.
• Stout (Valuation & Financial Advisory): Global advisory firm offering valuation, financial reporting, and disputes services; directly comparable to Evans & Evans's valuation, PPA, and litigation-support practice but at materially larger scale with multiple offices.
• Houlihan Lokey: Global investment bank with leading valuation and financial-advisory practices plus M&A and capital markets; a broader incumbent against which Evans & Evans positions its boutique, senior-led fairness-opinion and valuation offering.

Regional players

• BDO Canada Corporate Finance: Canadian arm of BDO's global valuation, transaction advisory, and corporate finance practice; competes in Canada for fairness opinions, valuations, and M&A advisory at a scale that exceeds Evans & Evans, with overlapping CBV-credentialed staff and audit-grade valuation methodology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/evans-&-evans-inc-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evans & Evans