St. Jude College Dasmariñas Cavite acquired by KKR backed-PHINMA Education for $7.43 M
Supported by KKR St. Jude College (SJC) Dasmariñas Cavite will be acquired by PHINMA Education Holdings, a private higher education group in the Philippines, for PHP 432-million ($7.43 million).
With the completion of the agreement taking effect on Friday, PHINMA Education said in a statement that it now owns 94.62 percent of the school.
Along with entering the Cavite market, the company now has 3,000 more students in its network, making it the largest in Southeast Asia for enrollment in private higher education.
The twelfth school in PHINMA Education’s regional network and the tenth in the Philippines is SJC Dasmariñas Cavite.
“SJC Dasmariñas Cavite continues our thrust to make education as accessible as possible to underserved youth,
“Our newest school expands PHINMA Education’s presence in Southern Luzon and nearby regions,” said Happy A. Tan, PHINMA Education Country Chief-Philippines.
The statement claims that this is PHINMA Education’s first school acquisition since the closure of the company’s investment by renowned private equity firm KKR.
“We will continue growing our network as we find more ways to reach learners that need education the most,
“The more students we can serve, the more individuals and families we will uplift through education,” said Dr. Chito B. Salazar, PHINMA Education President and Chief Executive Officer.
By purchasing PHINMA Araullo University in Nueva Ecija in 2004, PHINMA Education Holdings, a division of PHINMA Corporation, began providing educational services.
Since then, it has grown throughout the Philippines, serving over 150,000 students through a network of schools that includes PHINMA Union College of Laguna, PHINMA St. Jude College in Manila and Quezon City, PHINMA University of Pangasinan, PHINMA University of Iloilo, Southwestern University PHINMA in Cebu City, and PHINMA Cagayan de Oro College.
Additionally, the company wants to grow throughout Southeast Asia, starting with Horizon Education in Indonesia.
A conglomerate with Filipino ownership, PHINMA Corporation operates in the fields of education, building supplies, real estate development, and hospitality.
