Phinma acquires St. Jude College Dasmariñas in Cavite

MANILA, Philippines — Phinma Education Holdings Inc. is expanding its network with the acquisition of St. Jude College (SJC) Dasmariñas, Cavite for P432 million.

SJC Dasmariñas, Cavite is Phinma Education’s 10th school in the Philippines and the 12th in its regional network.

The acquisition adds 3,000 students to Phinma Education’s network, beefing up the company’s total network to 167,000 students.

“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,” Phinma Education country chief for the Philippines Happy Tan said.

SJC Dasmariñas Cavite was established in 1968 and offers a variety of tertiary and graduate programs.

The deal marks Phinma Education’s entry into the Cavite market, bolstering its presence in Southern Luzon and nearby regions.

It involves the acquisition of shares from existing shareholders and investment in additional shares of stock of the school, bringing Phinma Education’s ownership of SJC Dasmariñas Cavite to 94.62 percent.

Phinma Education said first closing of the transaction was completed last week with the payment of P85 million for secondary shares of the controlling stockholders.

A second closing is targeted next month where Phinma Education will invest in additional shares of stock for the acquisition by the school of the land and buildings of the campus as well as payment of debt.

Established in 2004, Phinma Education seeks to provide quality, affordable tertiary education to underserved youth, equipping them with professional and vocational training that supports gainful employment.

Phinma Education, which is a 66.41 percent-owned subsidiary of listed Phinma Corp., owns Phinma-Araullo University, Phinma-Cagayan de Oro College, Phinma-University of Iloilo, Phinma-University of Pangasinan, Phinma-Saint Jude College Manila, Phinma-Saint Jude College Quezon City, Phinma-Rizal College of Laguna, Phinma-Union College of Laguna and Southwestern University-Phinma.

SJC Dasmariñas Cavite is Phinma Education’s first school acquisition since the closing of KKR’s investment in the company.

“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,” Phinma Education president and CEO Chito Salazar said.