Iris Dorbian

Emerson said Tuesday that it has agreed to sell a 51% stake in its embedded computing and power business to Platinum Equity for approximately $300. However, Emerson will retain a 49% stake in the business and increase its share repurchase by $600 million to offset associated earnings dilution. Based in St. Louis, Missouri, Emerson is a provider of technology and engineering solutions.

Allstate Power Vac has merged with The Environmental Quality Company, a portfolio company of Kinderhook Industries. No financial terms were disclosed. Brown Gibbons Lang & Company served as the exclusive financial advisor to Allstate for the transaction. Based in Rahway, NJ, Allstate Power Vac. which was recently acquired by The Environmental Quality Company, is a provider of industrial and environmental environmental services in the Northeast U.S. The Environmental Quality Company, which is based in Wayne, Michigan, is a provider of environmental services and waste management solutions.

Bluerock Real Estate, a national real estate investment firm, has named Dan Falls as regional vice president of Bluerock Capital Markets. In his new position, Falls will be responsible for growing Bluerock’s sales in the central north region. Bluerock Capital Markets is the managing broker-dealer for Bluerock Real Estate.

Willis Group Holdings said Tuesday that it has named Michael Harden as CEO of Willis Re Bermuda. The appointment is effective January 1, 2014. Harden is currently chairman of Willis Re Australia and will continue in that role. Based in the UK, Willis Group Holdings is a global risk advisor, insurance and reinsurance broker.

Adele Thackray has resigned as non-executive director of UK-based Ronaldsway Private Equity, effective immediately. She will be replaced by John Leece. Previously, Leece worked at Macmillan Davies Hodes and was finance director of the public relations group within Chime Communications.

LA-based Investment firm Crescent Capital Group said Tuesday that it has raised more than $3.4 billion for Crescent Mezzanine Partners VI. According to the company, this amount exceeded the fund's initial target of $2.5 billion. The Crescent Mezzanine Group, which manages the fund, is a provider of long-term financing for leveraged buyouts, acquisitions, recapitalizations and later-stage growth financings.

J-Pac, a portfolio company of Torque Capital Group, said Tuesday that it has named Mark Florence as president and CEO. Previously, Florence worked at Abbott Laboratories, Bayer, McKesson and most recently, NxStage Medical. Headquartered in Somersworth, New Hampshire, J-Pac is a medical manufacturing company.

Chicago-based private equity firm GTCR said Tuesday that it has teamed up with Ed Fiorentino to launch Crealta Pharmaceuticals. Based in Lake Forest, Illinois, Crealta will focus on acquiring specialty pharmaceutical companies and products. A former CEO of  Actient Pharmaceuticals, Fiorentino will serve as chairman and CEO of Crealta.

UK-based internet media platform blinkx said Tuesday that it has entered into an agreement to buy Grab Media from Grab Network Holdings in an all-cash transaction. No financial terms were disclosed. Grab Media, which is backed by Court Square Ventures, Longworth Venture Partners, SCP Worldwide and SoftBank Capital, is a online video content syndication and advertising platform in Dulles, Virginia.

Momentive Specialty Chemicals and MicroBlend said Monday that they have formed MicroBlend Columbia S.A.S., a new joint venture company based in Cali, Colombia. According to both Momentive and Microblend, the new company will supply and service the Columbia market with APM System, a painting application product and other painting solutions. Based in Columbus, OH, Momentive Specialty Chemicals, which is backed by Apollo Capital Management, is a provider of thermoset resins. MicroBlend is an Arizona-based provider of paint systems and solutions for commercial and retail applications.