Boston-based private equity firm New Heritage has invested in Carnegie Dartlet, which provides strategic marketing for the higher education market.
Carnegie Dartlet offers a range of services including customised research, creative and content development, digital marketing campaign execution, and lead-generation services. It is headquartered in Westford, Massachusetts.
Heritage said its investment leaves operating control in the hands of the reinvesting founders, while providing them with liquidity and financial flexibility to accelerate future growth.
Carnegie Dartlet traces its roots back to the 1980s, when the business began as a print magazine focused on connecting prospective students to higher education institutions. Over the past 30 years, the company has transformed from print to digital marketing and says it now has hundreds of higher education institutions across the country as its customers.
The company’s chief executive Joe Moore said: “We couldn’t be more excited to be taking this next step in our story by partnering with Heritage. It was critical for us to find a partner that shared our vision for the future and could help us execute on our growth plans. In Heritage, we’ve found that partner.”
Nickie Norris, senior partner at Heritage, added: “We’ve been incredibly impressed with Joe and the entire management team at Carnegie Dartlet. By continually evolving and staying abreast of the latest marketing trends, the company has been able to engrain themselves as an indispensable partner to hundreds of its customers.
“As higher education institutions continue to evolve, Carnegie Dartlet is uniquely positioned to address their mission-critical digital marketing needs.”
Date published: 19 October 2020