Merged firm will operate with staff of 180 from eight cities worldwide
French ESG research firm Vigeo has merged with EIRIS, its counterpart in the UK, to form Vigeo EIRIS, an international company focused on ESG ratings for investors and advising corporations on integrating ESG principles into their operations.
Vigeo, founded in Paris in 2002, raised €6.3 mn ($6.8 mn) in new capital to fund the acquisition of the 32-year-old London-based EIRIS. It brings clients such as Sanofi, Danone and the European Investment Bank to the new entity.
At the time of the merger, EIRIS had worked with more than 200 investors, including pension and retail fund managers, banks, wealth managers, charities and religious institutions, offering ESG-focused research in Europe, the Americas and Asia.
‘We are entering the integration phase of our teams, methodologies and processes with a great deal of enthusiasm and confidence,’ says Nicole Notat, founder of Vigeo and president of Vigeo EIRIS, in a press release announcing the takeover.
Following the model practices of Vigeo, the new company will operate two units: Vigeo EIRIS Rating and Vigeo EIRIS Enterprise. It maintains a presence in Paris, London, Boston, Brussels, Casablanca, Milan, Montreal and Santiago and has a total staff of 180.
Vigeo EIRIS Rating will offer research covering more than 4,000 issuers – including companies, regions and states – to more than 300 clients, partners, investors, asset managers, non-governmental organizations and international institutions, according to the press release.