What Kalos does

Kalos is a boutique financial advisory firm specializing in transaction support for M&A buyers. Founded in 2019 by Big 4 alumni Mackenzie Regent and Travis Regent, the firm provides buyer-side financial due diligence, Quality of Earnings analysis, business valuation, financial modelling, and sale-and-purchase-agreement (SPA) advisory. Headquartered in Calgary with offices in Toronto and Vancouver, the firm serves private equity firms, family offices, search funds, and corporate acquirers, with disclosed mandates spanning Canadian, U.S., and UK/European PE buyers (including firms with $2B–$15B+ AUM) and a Global Top 10 Bank.

The service offering has expanded beyond core due diligence into adjacent practice areas, notably Transactions Accounting Advisory covering earn-out structuring, SPA advisory, and transactions accounting support, led by senior hire Matt Fuller. Go-to-market is engagement-based, with project fees negotiated per mandate and scope varying by deal size and complexity. The firm invests in visibility through event sponsorships with industry organizations including CVCA, BTF, and ACG, and has earned external recognition such as Best Financial Due Diligence Firm in North America (2025) and Top Transactions Advisory Firm in Canada (2024).

Delivery is staff-and-expertise-based rather than platform-based: there is no proprietary technology product, software stack, or data asset disclosed, and the firm competes on the credibility of its senior practitioners, repeat PE relationships, and multi-office, cross-border reach. Headcount sits in the 11–50 range across three Canadian cities plus cross-border mandates. Strategic emphasis in 2024–2025 has been on geographic expansion into the U.S. and UK/Europe, senior hiring (including Director Kent Sweezey in 2025), and broadening the per-deal scope via the Transactions Accounting Advisory line.

Name

Kalos

Legal name

Kalos LLP

Website

https://www.kalostransactions.ca

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Kalos LLP is a Calgary-based boutique financial advisory firm founded in 2019, providing M&A due diligence, Quality of Earnings, valuation, and SPA advisory services to private equity firms and corporate acquirers across Canada, the U.S., and the UK.

Ownership category

akta.pro rank

Product category

Transaction Advisory Services

akta.pro primary industry

Strategic Partnerships, Alliances & JVs Advisory (BPAHADAI)

Keywords

• Financial due diligence
• Quality of earnings
• Valuation services
• M&A transaction advisory
• Financial modelling

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction Due Diligence Advisory: Professional services fees for financial due diligence, quality of earnings reports, and capital stack optimization on M&A transactions. Engagements are project-based with fees typically tied to deal complexity and transaction value.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Kalos LLP is a boutique financial advisory firm providing financial due diligence, quality of earnings analysis, valuation, and financial modelling services for mergers and acquisitions. The firm serves multi-billion-dollar private equity firms, family offices, search funds, and corporate buyers on transactions ranging from $1 million to multi-billion dollars, delivering senior-level attention on every engagement with offices in Calgary, Toronto, and Vancouver.

Product overview

Kalos LLP is a boutique professional services firm offering integrated financial due diligence and valuation services for M&A transactions. The core offering centers on Financial Due Diligence and Quality of Earnings (QoE) analysis, supplemented by Valuation & Financial Modelling, Vendor Due Diligence, SPA Advisory & Closing Mechanisms, Transactions Accounting Advisory, and Earn-Out Structuring. Services are delivered across North America and Europe with a boutique approach, providing senior-level attention to transactions ranging from $1 million to multi-billion-dollar deals.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Due Diligence Comprehensive buy-side and sell-side financial due diligence services analyzing transaction targets' financial health, including quality of earnings assessments, working capital analysis, and net debt calculations. Serves private equity firms, family offices, search funds, and corporate buyers.
• Quality of Earnings (QoE) Detailed analysis of a company's earnings quality, identifying recurring vs. non-recurring items, normalization adjustments, and assessing the sustainability of reported financial performance. Provided for private equity and corporate transaction clients.
• Valuation & Financial Modelling Business valuation and financial modelling services including discounted cash flow analysis, market comparable analysis, purchase price allocations, and model audit services. Used by PE firms, corporates, and other transaction participants.
• Vendor Due Diligence Sell-side due diligence services enabling sellers to understand and address potential buyer concerns proactively, optimize deal structuring, and accelerate transaction timelines. Used by private equity portfolio companies and corporate sellers.
• SPA Advisory & Closing Mechanisms Expert guidance on Share Purchase Agreement terms, closing mechanism calculations, price adjustment negotiations, and post-close dispute resolution support for M&A transactions.
• Transactions Accounting Advisory Advisory services addressing complex accounting issues related to IPOs, capital raises, M&A transactions, GAAP conversions, and accounting standard implementations under ASPE, IFRS, and US GAAP for middle-market clients.
• Earn-Out Structuring Advisory services for structuring earn-out provisions in transaction agreements, including acceleration clause design and post-close performance monitoring to minimize disputes.

Quantifiable outcome

• 4,500+ financial due diligence / quality of earnings mandates completed
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• CVCA (Canadian Venture Capital Association)coreGTM or Marketing PartnerCo-Presenting Sponsor of CVCA Invest Canada Conference - strategic industry event for private equity and venture capital professionals in Canada
• BTF (Business Transitions Forum)coreGTM or Marketing PartnerNational Sponsor of Business Transitions Forum - industry event focused on business transitions and middle market transactions
• ACG Capital Connection TorontocoreGTM or Marketing PartnerPlatinum Sponsor of ACG Capital Connection Toronto - ACG's signature capital connection event for deal-making professionals
• ACG BC & ACG CalgarycoreGTM or Marketing PartnerDiamond Sponsor of ACG BC & ACG Calgary WestConnect Middle Market Growth Conference - regional growth conference for middle market M&A professionals
• ACG EdmontonminorGTM or Marketing PartnerSponsor of ACG Edmonton Corporate Growth Summit - regional event for corporate growth and M&A professionals

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Alvarez & Marsal: Alvarez & Marsal's Transaction Advisory Group is a leading global boutique alternative to Big 4 financial due diligence, offering QoE, buy-side and sell-side diligence, and SPA advisory. Directly competes with Kalos in mid-market M&A due diligence.
• FTI Consulting: FTI Consulting's Corporate Finance & Restructuring segment provides financial due diligence, QoE, and M&A advisory services globally. Closely overlaps with Kalos at the mid-market level, with a similar boutique-profile positioning.
• MNP LLP: MNP is one of Canada's largest accounting and advisory firms with a Transaction Advisory practice offering financial due diligence, valuation, and QoE services. Direct competitor in the Canadian mid-market M&A advisory space.

Broad incumbents

• BDO Canada: BDO is a mid-market-focused accounting and advisory firm with a Transaction Advisory practice offering QoE and financial due diligence services. Comparable to Kalos on mid-market deal size and target customer profile.
• RSM Canada: RSM provides transaction advisory, financial due diligence, and valuation services to mid-market PE firms and corporate clients. Operates as a broader accounting advisory firm with overlapping FDD service offering to Kalos.
• Grant Thornton: Grant Thornton's Advisory practice includes transaction advisory and financial due diligence services. Several former Kalos advisors previously worked at Grant Thornton, indicating direct overlap in mid-market PE diligence work.
• Deloitte (Financial Advisory): Deloitte's Financial Advisory practice includes a major Financial Due Diligence offering competing directly for the same PE clients. Kalos is positioned as a boutique alternative with senior-leverage differentiation.
• KPMG (Deal Advisory): KPMG's Deal Advisory practice provides buy-side and sell-side due diligence, vendor diligence, and SPA advisory. Multiple Kalos senior team members are former KPMG, making it a direct talent and customer competitor.
• EY-Parthenon: EY-Parthenon provides transaction due diligence, valuation, and corporate finance advisory globally. Competes with Kalos for PE-led mid-market deals; Kalos's recent Director hire (Kent Sweezey) came from EY-Parthenon.
• PwC (Deals Practice): PwC's Deals practice offers comprehensive financial due diligence, valuation, and SPA advisory. Multiple Kalos partners and senior staff came from PwC. Competes for the same enterprise and mid-market PE clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kalosllp
• LinkedInlinkedin.com/company/kalos-llp-transactions-diligence-advisory

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Kalos