Iris Dorbian

Industrial Growth Partners has acquired Tucson, Arizona-based IOTA, a maker of back-up power supply equipment for commercial, industrial and institutional emergency lighting applications. No financial terms were disclosed.

Vestar Capital Partners has made an investment in Woodridge, Illinois-based Edward Don & Company, a provider of food service equipment and supplies. No financial terms were disclosed. Wells Fargo Securities LLC served as financial adviser to Edward Don & Company. The Don family and some senior management will retain a "significant" ownership stake in the company. The deal is expected to close in the first quarter of this year.

Pacific Lake Partners has raised over $119 million for its third fund, according to an SEC filing. Based in Boston, Pacific Lake backs entrepreneurs looking to acquire service companies with revenues between $10 million and $30 million.

Ribbit Capital is seeking to raise $300 million for its fourth fund, according to an SEC filing. The Palo Alto, California-based venture firm focuses on the financial services sector.

Clearlake Capital Group has agreed to acquire NetDocuments, a provider of secure cloud-based document management, email management and collaboration solutions for law firms and corporate legal and compliance departments. The sellers included Frontier Capital. No financial terms were disclosed. William Blair & Company LLC provided financial advice to NetDocuments and the sellers on the transaction.

Fund Evaluation Group LLC affiliate FEG Private Investors has closed its third private capital fund of funds at $194.5 million, beating its $175 million target. The limited partners of FEG Private Opportunities Fund III LP include foundations, endowments, pension plans, educational institutions and religious institutions.

BHMS Investments LP has made an undisclosed investment in Peter C. Foy & Associates Insurance Services, LLC. Headquartered in Woodland Hills, California, PCF is an insurance brokerage firm.

Tower Three Partners has promoted Philip Taub to senior associate. The appointment becomes effective immediately. Taub joined the middle-market-focused private equity firm in August 2015.

GenNx360 Capital Partners has made an investment in Appalachian Railcar Services Inc. The deal was sourced in partnership with FourFront Strategies LLC. Bundy Group advised ARS on the transaction. Headquartered in Eleanor, West Virginia, ARS is a provider of railcar repair, railcar storage, plant loading and unloading, and short line switching operations.

McKesson Corp, a healthcare services and information technology company, and Change Healthcare Holdings Inc, a provider of software and analytics, network solutions and technology-enabled services, have formed a new healthcare information tech company. The new company, named Change Healthcare, will encompass most of the McKesson Technology Solutions business and "substantially all" of CHC's business. According to terms of the deal, McKesson owns a majority stake (70 percent) of Change Healthcare, with the remaining equity ownership held by CHC stockholders, which include Blackstone and Hellman & Friedman. In conjunction with the launch of the new company, Change Healthcare raised about $6.1 billion in debt, which was used to pay $1.25 billion to McKesson and approximately $1.75 billion to CHC stockholders as well as cover the costs of the transaction and repay about $2.8 billion of existing CHC debt.