Black Diamond Capital Management has acquired TFL, a provider of specialty chemicals for the leather industry.
TFL is the only company providing a full range of solutions to its customers covering every step of the leather production process.
"This transaction allows us to move forward seamlessly to continue to offer our customers first-rate products, solutions and technical support, while at the same time providing us with the opportunity to become the preferred supplier," says Eugen Katzenstein, co-chief executive of TFL. "It also allows us to continue to bring to market new ideas and innovative concepts with our extensive sales force, supported by our application centers for beamhouse, wet-end and finishing chemicals."
Based in Weil am Rhein, Germany, TFL has approximately 950 employees operating in subsidiaries across three continents as well as production facilities in Argentina, Brazil, China, France, India and Italy.
"This transaction significantly strengthens TFL’s balance sheet as the company now has virtually no debt," says Les Meier, principal at Black Diamond. "TFL creates customer loyalty with new ideas and innovative concepts and we are excited to be able to work with the current management to continue this path and further grow TFL’s customer and product base."
