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Professional Services
Since 1992 IRE L.L.C. has provided a full range of appraisal services for corporate clients from Ukraine, Russia, Europe, Asia and America. Specific Valuation Services include:
Asset Appraisal for International Audits
Market Appraisal of specific assets, including:
               - real estate, land, property rights
               - intangible assets
Business Valuation of Operating Companies and Investment Projects
Appraisal of Corporate Financial Position
Credit-Worthiness Analysis
Financial and Legal Due Diligence
IRE provides valuation services in full compliance with International Valuation Standards (IVS) and International Accounting Standards/International Financial Reporting Standards (IAS/IFRS).
IREs Senior Partners are joint developers and teachers for the United States Appraisal Institutes advanced Professional Development Program in International Valuation.
IRE has expert knowledge of the Ukrainian systems of accounting, taxation and business laws that affect the values of assets and companies.
Accurate and reliable valuation of assets and companies is a critical factor in reducing the risk profile of debt and equity investments and IREs expertise and experience with all aspects of Ukraines economic, business and governmental systems guarantees this.
IREs extensive experience ensures competitive prices and short time frames for completing large and complex assignments. Valuation services are tailored to meet client needs. IREs client references are available upon request. These personal client references attest to our accuracy, reliability and integrity.
Clients, Valuations and Project Participants
IRE has conducted several hundred valuations that encompass a large number of companies, institutions, agencies and project participants, and a very broad range of valuation assignments by type, purpose and use.
The following list includes some but not all of the companies, financial institutions and government agencies with whom IRE has worked on valuation assignments. Some entries in the list below are entities for which valuation assignments were performed; some entries in the list were the object of various valuation assignments; and some entries in the list are entities that were responsible for approving the valuation report. Most entries encompass one or more of these classifications for more than one appraisal assignment.
More than one valuation assignment marked with "*" sign.
- A -

  • Aval bank
  • Aloka Daewoo (electronics)
  • American Industrial Development Corporation*
  • Avdeevka Coke-Chemical Company

- B -

  • Baltic Beverages
  • Battelle Incorporated*
  • Bechtel Consulting*
  • Bolshoi Management
  • Borispil International Airport

- C -

  • Chernigiv Oblenergo* (electricity distribution)
  • Chernomor Brewery 
  • Coctabel Winery
  • Communications Technology Inc.

- D -

  • Dakor
  • Daewoo Telecom*
  • Defense Enterprise Fund*
  • Deloitte and Touche*
  • Desna Brewery
  • Dniprenergo (electricity distribution)
  • Dnipro Kaolin (mining)
  • Dniprospetstal (steel mill)
  • Dnirpo-Daewoo (electronics)
  • Donetsk Iron and Steel Company
  • Donetsk Refractory Plant

- E -

  • Econoler* (energy services company)
  • Engelhard Corporation*
  • Ernst and Young
  • European Bank for Reconstruction and Development (EBRD)*

- F -

  • First Ukrainian International bank
  • Finance and Credit Bank
  • Freedom Farm International*

- G -

  • Gostomel Glass Factory*

- H -

  • Hagler Bailly Consulting*
  • Hellenic Telecommunications
  • Hughes Network Systems

- I -


- K -

  • Kherson Oil Refinery
  • Kiev Vodokanal (water utility)
  • Kirovograd Oblenergo* (electricity distribution)
  • KPMG/Peat Marwick*
  • Kramatorsk Brewery
  • Kramatorsk Cement Plant
  • Kreditprom Bank
  • Kremenchuk Milk Processing Plant

- L -

  • Lviv Oblenergo* (electricity distribution)

- M -

  • Marganets Mining Company 
  • Ministry of Finance, Ukraine
  • Ministry of Industrial Policy, Ukraine

- N -

  • National Bank of Ukraine
  • Northland Power Company

- O -

  • Oschad bank
  • OTIS
  • Odesa Oil Refinery
  • Ordzenikidze Mining Company
  • Orizon (sputnik plant)

- P -

  • P.A. Consulting*
  • Pacific Northwest National Laboratory*
  • Poltava Candy Company
  • Poltava Oblenergo* (electricity distribution)
  • Price Waterhouse Coopers*
  • Prykarpattya Oblenergo* (electricity distribution)
  • Privat Bank

- R -

  • Rosava Tire Plant*
  • Russia Partners* (investment fund)

- S -

  • Saratov Wallpaper Company
  • Sevastopol Marine Plant
  • Shargarod Milk Factory
  • Shostka Milk Processing Plant*
  • Stakhaniv Ferro Alloy Plant
  • Stalkanat Metallurgical Company
  • State Property Fund of Ukraine
  • Sumy Oblenergo* (electricity distribution)
  • Syngenta Agra AG

- T -

  • Ternopil Oblenergo (electricity distribution)
  • Texterno Textile Plant

- U -

  • Ukreximbank
  • Ukrnafta
  • Ukrainian Energy Saving Services Company (UKRESCO)*
  • Ukrainian-American joint venture of Johnson & Johnson
  • Ukrainian-American joint venture of R.J.Reynolds
  • Ukrainian-German joint venture Reemtsma-Ukraine
  • Ukrainian-Swiss joint venture ABB-RZVA
  • UkrWest Windows*
  • United States Agency for International Development*
  • United States Department of Energy*
  • United States Embassy in Ukraine*
  • United States Export Import Bank*

- V -

  • Vynnytsia Meat Processing Plant 

- Z -

  • Zaporizhia Aluminum Smelter
  • Zaporizhia Ferroalloy Plant*
  • Zaporizhia Oblenergo (electricity distribution)
  • Zaporizhia Transformer Company*
  • Zaporizhia Electro-Mechanical Factory
  • Zhytomir Chemical Fibers Plant*

The firm's senior executives and all professional staff are licensed appraisers, engineers, economists and financial analysts holding a Ph.D. or Master's degree and with 10-30 years of professional experience.        
Senior Executives

Mr. Thomas, President of IRE (USA) Inc. Mr. Thomas is an industrial economist and financial analyst with over 30 years of international experience, including 15 years experience in the appraisal industry in Ukraine. He specializes in the valuation of land, intangible assets, corporate appraisal of financial creditworthiness, and valuation of assets for international financial reporting.

For 8 years as an economic research director at the United States Bureau of Mines, Mr. Thomas was responsible for international mineral supply analysis and worked in many countries conducting on-site enterprise evaluations. For 7 years as Vice President and Acting President of the Economics Institute of the American Economics Association, located at the University of Colorado at Boulder, Colorado, he was responsible for international business development and worked directly with a large number of foreign government ministries, banks, financial institutions and private businesses around the world.

Mr. Thomas is an adjunct professor of Economics and Business who has designed academic programs and taught business and economics courses for the University of Colorado at Boulder, Colorado; the Colorado School of Mines at Golden, Colorado; Carnegie Mellon University in China, and in several countries on behalf of the Economics Institute. He has authored numerous publications in the fields of industrial economics and international valuation. He has developed advanced international appraisal courses for the U.S. Appraisal Institute and regularly teaches on their behalf. He is an Honorary Member of the Ukrainian Society of Appraisers and an Associate Member of the Appraisal Institute.

Ms. Simonova, President of IRE (Ukraine)L.L.C. Ms. Simonova is a Certified Ukrainian Appraiser and a founding member and Vice President of the Ukrainian Society of Appraisers. She is also a Senior Certified Member of the American Society of Appraisers (ASA) and an Associate Member of the U.S. Appraisal Institute.

Ms. Simonova holds a Candidate of Technical Sciences (Ph.D.) degree in Civil Engineering. She specializes in the valuation of assets for international financial reporting, land, and due diligence for investment projects. During the last 15 years, she has personally worked on over 250 appraisal projects. Ms. Simonova Chairs the Working Group for the development of Ukrainian national appraisal standards and was the lead author of Ukraine’s National Standards of Appraising.
Ms. Simonova regularly teaches professional seminars, drafts methodological procedures and advises the Ukrainian Government on regulations and the development of the appraisal industry in Ukraine. She is the author of numerous articles and reports, for publication in Ukraine and presentation at international conferences, on problems of valuation in challenging markets and transitional economies, including an article in The Appraisal Journal, Spring 2009 - "Market Prices and Capitalization Rates for Commercial Real Estate in Ukraine" and the chapter on Ukraine in Real Estate Valuation in Global Markets, second edition, published by the Appraisal Institute.


Miss Fedorova, Director of IRE (Ukraine) L.L.C. is a Senior Real Property Appraiser. Miss Fedorova holds a Master’s degree in Economy of Enterprises from the Kiev National Economic University. She has over 5 years experience in business management and market analysis. Miss Fedorova is a Certified Appraiser and specializes in the valuation of assets for international financial reporting.


Mr. Grodzenchyk is a Senior Real Property Appraiser. Mr. Grodzenchyk holds a Master degree in Economics from the International Business and Law Academy (San-Marino). He has 15 years experience in the appraisal industry and is a Certified Appraiser and a member of the Ukrainian Society of Appraisers. Mr. Grodzenchyk specializes in the valuation of assets for international financial reporting, business and investment projects appraisal and market research and analysis.


Mr. Nemyatiy is an equipment specialist. Mr. Nemyatiy has a degree in Economics and Management in the Industrial Sector from the Kiev Polytechnic Institute.  He has practical experience in sales and service of industrial machinery and equipment since 1996. He specializes in all aspects of equipment valuation, particularly within the oil and gas industries.



Our contacts:

22 Sapornoslobodskaya
 Kyiv, Ukraine 03039
+38 044 583 0687 (multi-channel)
+38 095 083 75 04
+38 067 942 31 69

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