DecoArts founder stepping aside, new CEO named
Founder sells company to private equity company, Clifford remains with role.
Clifford has worked to expand DecoArt from its humble beginnings in 1985 to the global company it is today. He worked alongside artists worldwide to start the Helping Artist program in support of art teachers, publishers, and creative professionals and helped build DecoArt into the trusted paint brand for makers everywhere.
While stepping down, Clifford sold the majority of his shares in the company to Morganthaler Private Equity Partners (MPE). Clifford will remain active on the board of directors and as an investor in the company. Effective immediately, Jonathan Kane is the new CEO.
Kane is a seasoned executive with more than 30 years experience operating companies. His background in new product development and the retail environment make him an ideal candidate to replace Clifford and take DecoArt to the next level, the company said in a statement.
MPE Partners seeks to be the preferred partner for entrepreneur and family-owned companies. MPE invests in profitable, lower-middle-market companies poised for growth.