Iris Dorbian
Alliant Insurance Services, which is backed by KKR, has secured an undisclosed investment from Stone Capital LLC. As a result of the transaction, KKR will remain a "significant" shareholder in Alliant. Headquartered in Newport Beach, California, Alliant Insurance Services is an insurance broker.
Myelin Health, a portfolio company of Baird Capital, has acquired Chicago-based advertising agency HY Connect and Atlanta-based public relations and integrated communications firm Dodge Communications. No financial terms were disclosed. Also, Myelin CEO Rich Levy has been named chairman of both companies.
Fort Dearborn Company, which is backed by KRG Capital Partners, has acquired Core Label, a label supplier for the beverage sector. No financial terms were disclosed.
Investment bank Angle Advisors has hired Tom Gordy as a managing director. Gordy's work background includes stints at Variant Capital Advisors, BancOne Capital Markets, Inc. and its predecessor FirstChicago Capital Markets Inc.
First Read gets you through the mid-week with news that European grocery chains Ahold and Delhaize agree to a $29 billion merger, Netflix approves a seven-for-one stock split and homeownership falls as more Americans are renting and paying more.
In Second Opinion, Walmart, Amazon, Sears and eBay will stop selling Confederate flag merchandise, Qatar teams up with RSE Ventures to buy a stake in Formula One, and in addition to their team not winning a World Series since 1986, New York Mets fans are also the worst spellers in baseball, says new study.
Calera Capital has sold its majority stake in background screening company SterlingBackcheck to Goldman Sachs' merchant banking division and La Caisse de dépôt et placement du Québec. No financial terms were disclosed.
Ironwood Capital has made an undisclosed investment in Professional Rental Tools. Ironwood teamed up with LonguVue Capital to close the deal. Headquartered in Lafayette, Louisiana, PRT is a provider of stabilization and support equipment for oil and gas companies in the deepwater Gulf of Mexico.
3M has agreed to buy Capital Safety from KKR. The deal is valued at $2.5 billion. Morgan Stanley served as financial advisor to 3M on the transaction while Goldman Sachs was financial advisor to KKR. Based in Bloomington, Minnesota, Capital Safety is a provider of fall proteciton equipment.
Waypoint Capital has named Christopher A. Viehbacher as managing partner of its healthcare-focused Gurnet Point Capital fund. His appointment becomes effective July 1. Previously, Viehbacher was CEO of Sanofi and chairman of Genzyme.