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Boehme, a German manufacturer and supplier of leather lacquers and ancillary textile chemicals, has completed a multi-million restructuring.

The £9.2 million (euro14 million) funding was invested by asset-based lender and structured finance provider Landsbanki Commercial Finance (LCF).

Boehme, which is based in Geretsried near Munich, will use the money for working capital. The re-financing follows the acquisition of Boehme by DyStar Textilfarben, a supplier of products and services for the textile industry, in August for an undisclosed sum.

LCF was introduced to the deal by its director of business development Russell Gilling, who has known DyStar’s management for several years. Brent Osborne, LCF’s managing director, said Boehme has great potential and the funding he has provided will help its management to grow the business.

The firm was advised on its investment by law firm Speechly Bircham, led by partner Andrew Knight, who said the deal was completed despite considerable pressure on Landsbanki to hit an agreed financing deadline.

LCF appointed Hilco Appraisal Europe to manage an appraisal of Boehme’s raw material and finished goods inventory.

Hilco’s team was led by European chief executive Roger Townsend and senior appraiser Greg Baldor. Townsend said this is not the first time the firm has examined Boehme, as it also valued its inventory for the DyStar’s acquisition.

Boehme has been trading since 1879 and today has more than 700 employees in its subsidiaries in Africa, Brazil, Argentina, Austria, Hong Kong, China and Israel. It also has a majority shareholding in a Thai company as well as minority stakes in businesses in Australia and Ecuador. The group’s main trading company is Dr. TH. Böhme KG.

DyStar is owned by Platinum Equity LLC, a California-based private equity firm, which bought the business in 2004.

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