Rockville, Md.-based Institutional Shareholder Services Inc. (ISS) on Thursday announced the acquisition of IW Financial, a U.S.-based firm offering environmental, social, and governance (ESG) research, consulting, and portfolio management products and services.

Established in 2001 and headquartered in Portland, Maine, IW Financial’s suite of offerings help asset management firms and other institutional clients identify risks, enhance productivity, and increase revenues by adding value to the money management process while strengthening client relationships.

“This acquisition will help us continue to meet the growing demands of the investment community to further integrate ESG data and insights into ISS’ industry leading corporate governance offerings,” said Stephen Harvey, ISS chief operating officer, in a statement.

Sam Pierce, IW Financial CEO, will continue with the combined group and will lead development of an environmental and social ratings methodology, slated for release later this year as part of the ISS QualityScore screening and scoring service.