Schroder Ventures, the UK private equity house, has acquired the leather company Together for Leather.

Schroder bought TFL using funds from its Schroder Ventures European Fund II, as well as debt financing provided by Banca Commerciale Italiana. BCI was the sole arranger of the debt financing and will syndicate the debt in the next few months, said Nicola Volpi, a partner at Schroder. Volpi said that Schroder aimed to increase TFL's ties with other leather companies. TFL, which provides chemical products for the treatment of leather, was formed in 1996 through the merger of the leather unit of Swiss chemical company Ciba Geigy and two units of the German chemical group Degussa-Huls. Officials declined to comment on the value of the deal.