US equity backs Findus refinancing The Telegraph has learnt that Northwestern Mutual Capital, part of the US insurer of the same name, has joined the investor group led by Lion Capital which this weekend completed the debt restructuring of the company. As part of the restructuring, Findus has appointed a new chairman, Dale Morrison, from New York-based private equity house TriPointe Capital Partners. Mr Morrison is the former chief executive of Campbell Soup Company and McCain Foods. But the process triggered a process which at one point saw a break-up considered, and ended in Lion's consortium vying against Nordic investment firm Triton Partners for control. The refinancing involves £125m being used to pay down senior debt. In addition, £25m in cash will be retained on Findus's balance sheet, while a further £70m facility will be provided. A significant proportion of the firm's mezzanine debt has also been paid down, leading to overall indebtedness reducing from £721m to £366m.