TFL looks to the future with new holding group
The German leather chemicals producer TFL has a new owner. In a statement issued at Tanning Tech yesteday, the company said it had been acquired by the Berlin-based portfolio investment group, Oderwald.
TFL was formed in 1996 from the merger of Ciba Geigy’s leather business unit and the leather departments of Röhm and Stockhausen – both member firms of the Degussa Hüls Group. The company last changed hands in early 2001 when it was purchased by the European private equity group Permira (formerly Schroder Ventures (Europe). In the statement, TFL said it viewed the financial resources provided by Oderwald as allowing the company to further develop its systems and services for leathermakers worldwide. The purchase price was not dislosed.
