Press Release
September 2013
Black Diamond Capital Management, L.L.C. Announces Acquisition of TFL
Transaction Strengthens TFL’s Balance Sheet, Increases Resources to Grow Business
Black Diamond Capital Management, L.L.C. ("Black Diamond") today announced its
acquisition of TFL, the global market leader offering 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. The company is known for its cutting-edge
innovations and for working with customers to bring to market new solutions to challenges
they face as well as for partnering with them to create entirely new leather products.
“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,” noted Eugen Katzenstein, Co-CEO 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.”
“Furthermore, this transaction supports our vision of being an innovator, allowing us to
continue to undertake our own research in the field and to bring to market new products such
as the recently launched patent-protected products designed to help our clients gain more
yield out of their production,” added Peter Amann, TFL’s Co-CEO. “It is TFL’s aim to
continuously evaluate additional fields of application and 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.
“This transaction significantly strengthens TFL’s balance sheet as the company now has
virtually no debt,” said 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.”
About Black Diamond
Black Diamond Capital Management, LLC, is a privately held alternative asset management
firm. Black Diamond manages approximately $9 billion in assets across the company’s four
lines of businesses: Control Distressed/Private Equity, Hedge Funds, European Debt Funds
and CLO’s and other structured vehicles.
About TFL
TFL is a global operating company offering specialty chemicals for the leather industry. It is
the only company of its size exclusively focused on solutions for leather manufacturing.