STRATEGY THE PRIVATE IPO® TEAM PORTFOLIO NEWS PODCAST CONTACT Carnegie Announces Acquisition of mStoner By nhc Posted October 7, 2021 In Carnegie, New Heritage Capital October 7, 2021— BOSTON–(BUSINESS WIRE)–Higher education marketing and enrollment strategy leader Carnegie Dartlet LLC (“Carnegie”), a New Heritage Capital portfolio company, announced today its acquisition of mStoner, one of the industry’s most trusted web design and technology companies. This is Carnegie’s second portfolio expansion this year, following the merger with Underscore in May. The acquisition demonstrates Carnegie’s commitment to delivering customized and integrated marketing, technology and enrollment solutions for its university partners. Since mStoner’s founding in 2001, it has established itself as the industry go-to for full-spectrum web design and development, answering the market’s demand for solutions within the most vital real estate in higher education: the web. Carnegie and mStoner combine to deliver something unique and truly different from the packaged offerings of traditional players in the industry. “Over the years, I’ve watched the internet reshape how higher education markets to students,” said Carnegie Chairman and CEO Joe Moore. “An institution’s website is at the heart of it, and with the addition of mStoner to the Carnegie family—in combination with the power of Underscore and our Slate leadership—we can now offer our clients the very best and most cost-effective, fully integrated web solutions.” The integration opportunities for all clients will be immediate and come with clear benefits. mStoner’s clients gain a wealth of market intelligence and tools that can be deployed seamlessly into their existing websites and applications, such as SEO, Slate integrations, personalized content and attribution, sophisticated student targeting, and Carnegie’s best-in-class digital marketing services. Likewise, Carnegie and Underscore’s clients will have access to more web design and development capabilities and long-term support. “We’re incredibly excited about joining Carnegie,” said mStoner co-founder and Chief Executive Officer Voltaire Santos Miran. “Our collective expertise and expanded capabilities allow us to offer our clients best-in-class communications services across a full spectrum of their recruitment, retention, and relationship-nurturing needs.” “From a technical perspective, we can now push our content management solutions further by integrating digital marketing and enrollment data. It’s exciting to think about forging stronger connections between our clients’ marketing and enrollment teams,” said mStoner’s Partner and Chief Operating Officer Bill McLaughlin. “We’ve always been about more than just the website itself, and now we can offer a comprehensive suite of strategic services and deliver more value for our client partners.” Nickie Norris, Senior Partner at New Heritage Capital, added, “We are extremely excited to welcome the mStoner team to Carnegie, and even more excited to see how the combined team will introduce fully integrated solutions never before seen in the higher education market.” About Carnegie Carnegie Dartlet is a leading provider of strategic marketing solutions for the higher education market. Carnegie Dartlet offers a comprehensive range of solutions including digital marketing; research, strategy & creative development; lead generation services; web development & integrated technology solutions; CRM implementation and student search services. Through its highly customized offering and high-touch approach, Carnegie has earned a reputation for delivering high-yield enrollment marketing solutions. For more information about Carnegie Dartlet, visit carnegiedartlet.com. About New Heritage Capital New Heritage Capital is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. Through its innovative minority recapitalization and growth equity structures, Heritage helps founders achieve personal liquidity and the capital necessary to spur growth, while at the same time allowing founders to maintain control of their business. With decades of experience managing growth, Heritage gives its partners the strategic, operational, and financial guidance to help its companies reach their growth objectives. To learn more, visit newheritagecapital.com. 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