Geir Frantzen, a former senior manager at "Findus AB", bought out the UK company in April 2005 from EQT. EQT sold the rest of the Findus business (excluding Italy and Switzerland) to CapVest Limited in January 2006, which subsequently created "FoodVest" as a holding company for Findus and Young's Seafood. In July 2008 FoodVest, including Findus, was purchased by the British private equity firm, Lion Capital LLP. FoodVest was renamed "Findus Group" in 2009. On 6 January 2009, a fire broke out at the British Findus factory, devastating much of the building. "Newcastle Production", owners of the factory, entered in the administration with "Zolfo Cooper" on 12 January, leading to 359 redundancies.