Hydrophane is a horse-care and leather-care product range --
everything for the saddle and under it!  It's sold by Battle,
Hayward and Bower Ltd who are veterinary product manufactures.
It's available from horsey-type shops, "From North America to
New Zealand, from Buenos Aires to Hong Kong", as the web site
puts it:  http://www.battles.co.uk/ 

Leather dressing products seem to claim neatsfoot oil, lanolin and
glycerin as the main ingredients -- waxes and oils.  Looking at a
bottle of Hydrophane leather dressing here and smelling it, I'd guess
it's a souped-up neatsfoot oil concoction.  The bottle gives no hint.
The range also has a blended neatsfoot oil product, so the leather
dressing must have more in it.

Julian Dyer