TFL completes the acquisition of LANXESS Organic Leather Chemicals business
TFL Ledertechnik GmbH – a leading global supplier of specialty chemicals to the leather industry and a portfolio company of the US investment company Black Diamond Capital Management, L.L.C. – has completed the acquisition of the organic leather chemicals (OLC) business of LANXESS. The transaction has received the approval of the relevant authorities and closed on 1st June 2021. The TFL and OLC teams are now working together to integrate the two businesses to provide a seamless service to our customers worldwide.
LANXESS manufactures a broad range of leather chemicals at its plants in Leverkusen (Germany), Filago (Italy), and Changzhou (China) and has a worldwide network of application-oriented laboratories and sales offices. TFL has acquired all of LANXESS’s organic leather chemicals business, which operates with approximately 420 employees.
“I am excited that the leather chemical business of LANXESS is now part of TFL. The combination of two world-leading leather chemicals businesses will allow us better serve our customers with an unparalleled range of high performing, innovative and sustainable solutions to the leather industry”, said Dr. Wolfgang Schütt, CEO of the TFL Group "and we are very pleased to welcome our new colleagues as part of the TFL family now.”
The combined TFL and LANXESS leather businesses now employs around 1,200 people worldwide and has a turnover of approximately €450 Million on a proforma basis. With production facilities in Germany, Italy, France, Brazil, India and China and a presence in over 90 countries, it provides excellent global coverage.
TFL is a leading global supplier of specialty chemicals to the leather industry and a portfolio company of the US investment company Black Diamond Capital Management, L.L.C. TFL offers innovative products and solutions to tanneries, leather processing companies, and coaters- always striving to introduce fresh ideas to the market. We develop, produce and market specialty leather chemicals for the footwear, auto, furniture and garment industries. The company employs approximately 800 employees in 15 countries.