TFL acquisition confirmed
11/09/2013
“This transaction significantly strengthens TFL’s balance sheet as the company now has virtually no debt,” said Les Meier, principal at Black Diamond. “We are excited to be able to work with the current management to further grow TFL’s customer and product base.”
At the time of the announcement, TFL co-chief executive, Eugen Katzenstein, said the deal would allow the chemicals company “to move forward seamlessly” and to continue to offer our customers “first-rate products, solutions and technical support”. He added: “It also allows us to continue to bring to market new ideas and innovative concepts with our extensive sales force, supported by our application centres for beamhouse, wet-end and finishing chemicals.”
His co-chief executive, Peter Amann, said the acquisition by Black Diamond Capital Management supported TFL’s “vision of being an innovator”, allowing the company to continue to undertake its own research in the field and to bring to market new products. He said TFL’s aim is to “bring challenging ideas into the market”.
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.
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