Morrow Sodali, global stakeholder engagement and ESG consulting firm, has announced the acquisition of HXE Partners. HXE Partners, an ESG strategy and implementation advisory firm, joins Morrow Sodali's ESG practice and will work closely with Morrow Sodali subsidiary FrameworkESG, a specialty advisory firm that provides data-driven analysis and expertise to help clients reduce ESG risk, build trust and create long-term value for stakeholders. Terms of the deal were not disclosed.
Founded in 2018, HXE Partners was created to address the widening gaps between what investors were asking for and what companies provided regarding sustainability and ESG information. The need for better disclosure ultimately leads to the need for better strategies, as well as their thoughtful implementation and their reporting. In response to this demand, HXE Partners has grown to support clients in the sustainability and ESG value creation process.
"This acquisition and the recent acquisition of FrameworkESG bring together two leading ESG specialty firms under the Morrow Sodali umbrella," said Morrow Sodali Chief Executive Officer, Alvise Recchi. "By augmenting our resources with HXE Partners, we are establishing Morrow Sodali as the go-to firm for ESG expertise and creating much needed additional capacity to service our growing roster of corporate clients."
"We are excited to join Morrow Sodali and align with a leader in the ESG space," said Harry Etra, Founder and CEO of HXE Partners. "The combination of the two firms will enable us to offer clients expanded capabilities from a larger team of ESG experts. Morrow Sodali offers an entire suite of services designed to help clients reduce risk, capture opportunities and create value for stakeholders."
Harry Etra will join Morrow Sodali as Managing Director, where he will collaborate with Morrow Sodali's existing ESG Advisory practice in North America to provide clients with enhanced ESG services and additional climate capabilities to meet the growing demand from Morrow Sodali's client base and the marketplace.
Morrow Sodali's comprehensive ESG and investor-focused services include assessment, integration and communication work such as: strategic ESG consulting, ESG reporting and disclosure, stakeholder engagement, materiality and ratings assessments, competitive analysis and benchmarking, among others. With the addition of HXE Partners, the firm gains a team with particular expertise in climate-related matters. "With 2023 being the hottest summer on record, companies have increased their focus on climate-related issues. As a leading ESG Advisory firm, we are deepening our climate expertise to help companies address this critical issue," added Recchi.
The acquisition of HXE Partners follows FrameworkESG as the second ESG consulting firm acquisition announced by Morrow Sodali in the last six months, continuing the company's strategy of building and broadening its suite of client-focused stakeholder engagement and ESG consulting services, bringing key additional capabilities and capacity to the firm's global client base.
SOURCE: Morrow Sodali
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