Schroder Ventures acquire TFL

Schroder Ventures, one of Europe's leading private equity groups, have announced the acquisition of TFL (Together For Leather), a key player in the worldwide leather chemicals market, by Schroder Venture European Fund II. TFL research, manufacture and market chemical products and provide application services for the treatment of leather. Peter Schaller, joint managing director of TFL, said: 'Our vision is to be the preferred partner for the leather industry worldwide. Additional funding will enable us to continue to focus on creating value for our customers through the development of superior products and services for leather processing. 'In recent years we have developed the considerable skill of bringing individuals from diverse company backgrounds into TFL where they enjoy working together in the totally leather focused TFL culture. I am very much looking forward to continuing this for the benefit of our many customers worldwide', said Dr Heider G Krenz, joint managing director of TFL. Schroder Ventures are one of the largest private equity specialists in Europe, currently advising 25 funds worldwide with a committed capital totalling over US$7 billion. In May 2000 Schroder Ventures raised their second European fund of 3.5 billion euros. Schroder Ventures have a specialist chemicals team focusing on buyouts with a minimum value of 100 million euros. Dr Hans Udo Wenzel has been appointed co-president of the TFL Group from the beginning of April 2001. Dr Wenzel, who is currently a partner in Novorchem Srl based in Milan, Italy, a group of chemical distribution companies, whose majority shareholder is Schroder Ventures, has joined the TFL group as additional president and managing director. He will work for the group for approximately one third of his time. (For further information see people section). TFL were formed in 1996 with 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. Since that time TFL, under the leadership of joint managing directors, Peter Schaller and Dr Heider G Krenz, have grown organically and through acquisitions. Today, TFL, which are headquartered in Germany, have operations in over 16 countries and employ approximately 900 people worldwide. TFL Hong Kong event The annual TFL event took place in the ballroom of the Grand Hyatt hotel, Hong Kong, on April 1. The audience, which was made up of invited tanners including TFL Club members, were shown the latest technical and fashion innovations from the company. Dr Campbell Page, TFL Ledertechnik AG, highlighted their new Hifa dyeing system. The new system has been designed to produce highly fast leathers. The presentation was followed by a fashion show where TFL's latest wet-end and finishing products had been used to produce a modern, fashionable range of footwear, garment and leathergoods leathers.