The Cesumar University Center (UniCesumar), headquartered in Maringá, in northern Paraná, was sold to Vitru Educação, which controls Uniasselvi. The transaction value is R$ 3 billion, according to market information. The purchase is announced this afternoon of Monday, August 23rd.
UniCesumar was founded in Maringá in the 1990s. Currently, there are units such as Ponta Grossa and Curitiba and other cities in Paraná.
Currently, more than 300 thousand students are enrolled at UniCesumar, between distance learning – in which UniCesumar is one of the market leaders – and on-site.
Vitru reported that UniCesumar recorded net income of R$762 million between April 2020 and March 2021. Under the agreement, the current owners of UniCesumar now have 23.6% of Vitru’s capital, through shares and 62% of the amount will be paid in cash. The remainder of the investment will be paid one year after closing the contract.
According to the buyer group, the company has committed to pay R$ 180 million to the Matos family, founder of UniCesumar, through a non-competition agreement.
The current dean and president of UniCesumar, Wilson Matos, will become vice-president of the board of Vitru. Willian Mattos, who is manager of the institution’s distance learning area, will become co-CEO of the company that signed the agreement.