# Lanxess sells organic leather chemicals business to TFL for up to €195M

Lanxess agreed to sell its organic leather chemicals business to TFL Ledertechnik GmbH for a fixed €80 million plus an earn-out of up to €115 million. The transaction includes about 460 employees and production sites in Leverkusen, Filago, and Changzhou, and is expected to close around mid-2021.

- Type: Acquisition
- Announced: 2020-09-30
- Where: Leverkusen, Filago, Changzhou, Germany
- Value: $228.0M (195.0M EUR)
- Jobs: 460
- Status: announced
- Products: organic leather chemicals
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [LANXESS](https://endata.com/companies/15514.md)
- [Black Diamond Capital Management](https://endata.com/companies/24366.md) (investor)
- [TFL Ledertechnik GmbH](https://endata.com/companies/46600.md) (acquirer)

## Sources

- [tfl.com](https://www.tfl.com/en/news/lanxess-verkauft-gesch%C3%A4ft-mit-organischen-lederchemikalien-an-tfl.jsp), 2020-09-30: "Wir sind überzeugt, dass wir dem Geschäft durch den Übergang an TFL neue Wachstums- und Entwicklungsperspektiven eröffnen und es damit deutlich stärken."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.