KKR-backed Philippine private higher education group PHINMA Education Holdings has on Monday announced its purchase of St. Jude College (SJC) Dasmariñas Cavite in a PHP 432-million ($7.43 million) agreement.

PHINMA Education said in a statement that the completion of the deal effective Friday brings its ownership of the school to 94.62 percent.

This also marks the company’s entry into the Cavite market and adds 3,000 students to its network – the largest in Southeast Asia’s private higher education sector in terms of enrollment.

SJC Dasmariñas Cavite is PHINMA Education’s tenth school in the Philippines and twelfth in its regional network.

“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.

According to the statement, this is PHINMA Education’s first school acquisition since the closing of leading private equity firm 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,” said Dr. Chito B. Salazar, PHINMA Education President and Chief Executive Officer.

PHINMA Education Holdings, part of PHINMA Corporation, started operating in the education services sector in 2004 through the acquisition of PHINMA Araullo University in Nueva Ecija.

It has since expanded its presence across the Philippines, serving more than 150,000 students across a school network which includes: PHINMA Cagayan de Oro College, PHINMA University of Pangasinan, PHINMA University of Iloilo, Southwestern University PHINMA in Cebu City, PHINMA St. Jude College in Manila and Quezon City, PHINMA Rizal College of Laguna, and PHINMA Union College of Laguna.

The firm also aims to expand across Southeast Asia beginning with Horizon Education in Indonesia.

PHINMA Corporation is a Filipino-owned conglomerate involved education, construction materials, property development, and hospitality businesses.

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