06 Jul Udenna seals acquisition of Enderun Colleges
Udenna Corporation has finalized its acquisition of Enderun Colleges, Inc., foraying deeper in a sector crucial to developing the country’s human capital and strengthening the Philippine economy.
The holding company of businessman Dennis A. Uy closed the transaction to purchase the premier private education institution on July 5.
“Enderun Colleges provides us another opportunity to support the Philippine economy’s growth,”Mr. Uy said. “We believe that quality education and skills training are what make our human capital more productive and competitive.”
Enderun Colleges was established in 2005, with its main campus located on a 1.8-hectare property in Fort Bonifacio. The Enderun campus now houses 6 buildings and can accommodate an additional 8,200 square meters of classroom space.
The school initially focused its academic programs around hospitality management and culinary arts. In 2009, it expanded its course offerings to include business administration, entrepreneurship and economics.
Aside from offering degree and certificate programs, Enderun Colleges operates food and beverage outlets within and outside its campus. It also provides management services and marketing solutions to the hospitality sector.
“In 10 years, Enderun Colleges has established itself as a premier management school, anchored on holistic leadership development, global orientation and career-focused academic programs while providing its students a vibrant college life,” said Dr. Edgardo Rodriguez, President of the College.
“Enderun Colleges has built an impeccable reputation and has surpassed all its quality goals, but the time has come to explore new growth opportunities, which the new ownership may be able to accelerate,” Dr. Rodriguez added.
Udenna has diverse business interests in oil and gas through Phoenix Petroleum Philippines, Inc.; shipping and logistics through Chelsea Logistics Holdings Corp.; and real estate through Udenna Development (UDEVCO) Corp., among others.
Prior to acquiring Enderun Colleges, the company invested in a maritime training school to support its shipping and logistics businesses. Udenna’s recent investments in the hospitality sector make Enderun an integral part of its growth strategy.
“Our acquisition of Enderun Colleges comes at an opportune time,” Mr. Uy noted. “It supports our aggressive expansion in industries vital to the Philippine economy’s further growth.”
Udenna will retain the corporate management and school administration of Enderun Colleges. It will work closely with the College’s founders to ensure a smooth, efficient and successful transfer of ownership.
“We are committed to the mission of Enderun Colleges to equip students with the academic training, professional competencies and character necessary for success in the global workplace,” Mr. Uy said.
Evercore Asia Ltd., a premier independent investment banking advisory firm, acted as sole financial adviser to Enderun Colleges for the transaction.