Hartford Business Journal

4 Hartford Business Journal • November 26, 2018 • www.HartfordBusiness.com Week in Review Briefs Navigators' shareholders OK $2.1B buyout from The Hartford Stamford global specialty underwriter The Navigators Group Inc. says its shareholders have approved a $2.1 billion cash buyout from property and casualty insurer The Hartford. Navigators' shareholders greenlit the deal, which is subject to closing conditions and other regulatory approvals, and is on pace to be completed during the first half of 2019. The Hartford is acquiring Navigators Group for $70 a share, or $2.1 billion in cash. As previously reported, Navigators will become a subsidiary of The Hartford and its 800-plus employees will join the insurer after closing. Hartford HealthCare expands eastern CT presence The second-largest health system in Connecticut is planning to beef up its presence in the eastern portion of the state with a new health center in the Mystic section of Stonington. HHC announced that it and developer- owner David Lattizori are filing plans with local officials there to develop a 47,000-square-foot building at the Perkins Farm campus near Mystic Aquarium. It did not disclose the value of the project, referring to it only as a "multimillion- dollar" facility that would provide primary care, cardiology, imaging, rehabilitation, infusion, headache and movement disorder services. The facility would add to HHC's southeastern Connecticut presence, which includes Backus Hospital in Norwich, as well as various primary, specialty and urgent-care locations that stretch to the Rhode Island border. SJW victorious in $1.1B CT Water acquisition battle After a contentious, months-long battle among corporate suitors, Connecticut Water Service shareholders overwhelmingly approved a $1.1 billion stock purchase deal with California's SJW Group. About 92.5 percent of shareholders greenlit SJW's all-cash buyout of CTWS's outstanding shares. The approval keeps the $70-per-share acquisition on pace to close during the first quarter of 2019, CTWS officials said. The deal is still subject to customary closing conditions and regulatory approvals. Carol P. Wallace, chairman of the Connecticut Water board of directors, said the Clinton-based utility will continue to be led locally with a New England regional headquarters. Connecticut Water and SJW Group originally agreed to a $750 million merger, but the California utility improved its offer in August amid competing bids from Eversource Energy and a separate California suitor. Scott is Manufacturers Association's new exec. director Third-generation Connecticut manufacturer Jamison Scott is the new executive director of the New Haven Manufacturers Association, the state's leading producer lobby. Scott's appointment was effective Nov. 1. He succeeds M. Edward Fenton, who stepped aside in June after briefly succeeding NHMA's longtime chief executive Jerry Clupper, who retired in June 2017. Scott, executive vice president of his family's Woodbridge business, Air Handling Systems, has sat on the NHMA board for more than 20 years, and is a past board president. He currently chairs the association's workforce committee. Enfield Square mall to go up for auction With the Enfield Square mall in steady decline and no promise of it being reinvigorated by new stores, the property's owner, J.P. Morgan TOP STORY Lamont promises national executive search for administration B ack from an orientation seminar for new governors, Gov.-elect Ned Lamont outlined an approach to finding "the best and brightest" for his new administration, hinting that some top appointees would be executives from outside politics who are willing to accept a pay cut to work for Connecticut. Two senior human-resource executives, Kevin Myatt of Yale New Haven Hospital and John Denson of the global executive recruiter, Korn Ferry, were introduced as the co-chairs of a talent search committee that Lamont says is intent on broadening the typical pool of potential appointees. Ryan Drajewicz, 39, of Fairfield, an executive at the hedge fund, Bridgewater Associates, and a former aide to U.S. Sen. Chris Dodd, is executive director of the transition, a job that typically goes to the person who will be the governor's chief of staff. It is unclear the extent to which Lamont is considering organizational changes. At the recent National Governors Association orientation, Lamont said, briefers talked about states that are creating the position of chief operating officer. The new administration's primary goal is to fill about two-dozen positions, both in the governor's office and at state agencies. Mark Pazniokas | CT Mirror BY THE NUMBERS 92.5% The percentage of Connecticut Water Service shareholders who approved the company's $1.1 billion sale to California's SJW Group. 150 The number of nursing assistants, housekeepers, diet aides, phleboto- mists, unit coordinators and other em- ployees of Rockville General Hospital who recently voted to be represented by labor union AFT Connecticut. 45 The number of days Hartford's annual Winterfest will offer free skating down- town at Bushnell Park, starting Nov. 23. 342,350 The gallons of unused paint collected in fiscal 2018 as a result of the state's mandatory paint-recycling program. TOP 5 MOST READ On HartfordBusiness.com • 1. Study: CT tolls could generate $1B annually • 2. SJW victorious in $1.1B CT Water acquisition battle • 3. JCJ tapped for major casino expansion • 4. Danone to cut 129 workers in Naugatuck closure • 5. Hartford Athletic to mark Dillon Stadium progress STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe Gov.-elect Ned Lamont with Lt. Gov-elect Susan Bysiewicz at a press conference. Jamison Scott HBJ PHOTO | MATT PILON

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