Dennis Uy completes Enderun buyout
Davao-based businessman Dennis Uy has completed his acquisition of Bonifacio Global City-based educational institution Enderun Colleges Inc., expanding his footprint in the education space.
Uy purchased Enderun through his holding firm Udenna Corp., which has 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, Udenna had invested in a maritime training school to support its shipping and logistics businesses.
“Enderun Colleges provides us another opportunity to support the Philippine economy’s growth,” Uy said in a press statement on Wednesday. “We believe that quality education and skills training are what make our human capital more productive and competitive.”
“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 Enderun president Edgardo Rodriguez.
Enderun Colleges was established in 2005, with its main campus located on a 1.8-hectare property in BGC. The Enderun campus now houses six 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.
“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,” Rodriguez added.
“Our acquisition of Enderun Colleges comes at an opportune time,” Uy said. “It supports our aggressive expansion in industries vital to the Philippine economy’s further growth.”
Udenna plans to retain the corporate management and school administration of Enderun Colleges. It expects to work closely with the founders of the institution 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,” Uy said.
Evercore, a premier independent investment banking advisory firm, acted as sole financial adviser to Enderun Colleges for the transaction.
Enderun has a student population of around 1,200 full-time college and certificate students, based on a regulatory filing by A.Soriano Corp. (Anscor), the biggest selling stockholder of this school with a 20 percent stake. Another selling stockholder is the Lao family which also controls D&L Industries, with a 10 percent stake. The JKTC Group of John Tiu Ka Cho is likewise among the 25 shareholders of Enderun.
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