Lichtenvoorde (NL), 23 September 2019 - State of Art welcomes new shareholders

State of Art Menswear, an international men's fashion brand and family-run business since 1936, welcomes the investment company Quadrum Capital and part of the management of State of Art as its new owners.

The current owners of the company, the Westerman family, are transfering the majority of their shares to Quadrum Capital. Quadrum Capital will manage this family business in the east of the Netherlands together with the management, which participates in part. The Westerman family will remain a shareholder in State of Art.

The Westerman family explained: ‘In Quadrum Capital, we see a committed partner who respects our core values - and therefore the culture of our company. The basis of our partnership is to continue to build the future of State of Art on the basis of strong foundations and new knowledge and skills.’

Arjan Hoop of Quadrum Capital commented: ‘State of Art is a fine brand with a rich history as a family-run business. We will build on this respectfully and, together with the team, use the opportunities and possibilities to further develop and grow State of Art.’

Martijn Mateman, operational director of State of Art, added: ‘We are pleased with Quadrum Capital as a new member of the State of Art family. With the knowledge, expertise and network of Quadrum Capital, we will continue to professionalise our organisation and further shape our ambitions as an energetic leading international men's fashion brand.’