TFL to buy LANXESS Organic Leather Chemicals business

The transaction is subject to the approval of the relevant authorities and is expected to close by mid-2021

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 agreed to acquire the organic leather chemicals business of LANXESS.

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 will acquire all of LANXESS’s organic leather chemicals business, which operates with around 460 employees.

"We are delighted to announce this acquisition and look forward to combining two world-leading leather chemicals businesses. The combined business will offer an unparalleled range of high performing, innovative and sustainable solutions to the leather industry”, said Dr. Peter Amann, CEO of the TFL Group. “Our enhanced scale will support our goal to build the world’s Top Performing Leather Chemicals Company and significantly strengthens our finishing product portfolio and presence in the auto industry”.

The combined TFL and LANXESS leather businesses will employ around 1,200 people worldwide and have 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 will provide truly global coverage.