Estácio: FUFS´s Presentation - Mergers and Acquisitions

1. Expansion Strategy – M&A
Contextualizing...
Expansion:
Bahia
Expansion:
Bahia
City:
Feira de Santana
City:
Feira de Santana
IES Target:
FUFS
IES Target:
FUFS
FEIRA DE
SANTANA
ALAGOINHAS
 Feira de Santana is the second largest city in
Bahia in terms of population and the
preferred city for expansion after the state
capital, Salvador.
 It is located approximately 100 km from
Salvador.
SALVADOR
CRUZ DAS ALMAS
SANTO ANTONIO
DE JESUS

2. Expansion Strategy– M&A
Contextualizing...
Apresentação da área de Mercado em 02/06/2015
Since other consolidating groups are
already present in the city, an accelerated
acquisition is recommended rather than
beginning our own greenfield development

3. Faculdade Unidas de Feira de Santana
Overview
Institution – Unidas Feira de Santana
• Located in Feira da Santana
• Controlling Institution: Sociedade Empresarial de Estudos Superiores e
Tecnológicos Sant’ana Ltda ‐ ME
• Controlled Institution: Faculdade Unidas de Feira de Santana – Unisantana
• Limited Liability Company
• First intake in 2013.01 (base under maturation)
• 5 undergraduate programs:
• Biomedicine
• Nursing
• Physiotherapy
• Nutrition
• Radiology (technician)
• 2016 Student Base (MoU): 1,500
• Net Average Ticket: ≈ R$500.0
Ownership Structure
Cleonice de
Souza Lima
Cleonice de
Souza Lima
Matheus
Souza Lima
Matheus
Souza Lima
37% 10%
Ana Souza
Lima Moraes
Ana Souza
Lima Moraes
Péricles
Magalhães
Moraes
Péricles
Magalhães
Moraes
33% 20%
INEP Evaluation Result
Index Grade Year
CI – Institutional Concept 3 2011
IGC – General Course Index ‐ ‐
IGC Cont. ‐ ‐

4. Operating Information
New Programs, Idleness and Others
Total places: 2,760
Idle capacity: 46%
ENADE CPC CC
‐ ‐ 3
‐ ‐ 3
‐ ‐ 3
‐ ‐ 4
‐ ‐ 4
Resultado Avaliação INEP
Índice Valor Ano
CI ‐ Conceito Institucional 3 2011
IGC ‐ Índice Geral de Cursos ‐ ‐
IGC Cont. ‐ ‐
Accelerated Greenfield
List of Courses (to be requested by Estácio)
Requests for 2 Distance‐Learning Centers
Filed for the Location
List of Courses (to be requested by Estácio)
Requests for 2 Distance‐Learning Centers
Filed for the Location
Regulatório
Curso
Vagas
Anuais
Duração
(Anos)
Total
Matriculas
(2015/02)
Ociosidade (%)
Biomedicina 150 4 600 389 35%
Enfermagem 150 5 675 295 56%
Fisioterapia 150 5 675 393 42%
Nutrição 90 4 360 268 26%
Radiologia 150 3 450 155 66%
Total 690 2.760 1.500 46%
Price R$9.5 MM ‐> R$6,300/student
Firm Value R$9.5 MM
‐ Estimated Net Debt R$0.85 MM
‐ Equity Value R$8.65 MM
Form of Payment
‐ In Cash R$6.5 MM
In Installments R$3.0 MM
‐ ‐ 48 months @IPCA R$1.0 MM
‐ 60 months @IPCA R$2.0 MM

5. Strategic Rationale
Feira de Santana is a priority location.
EXPANSION
STRATEGY
The area of influence comprises 36 small and medium‐sized cities  Strengthening of the Estácio brand
STRENGTH IN
BAHIA
2,760 authorized places  46% idle capacity. Two new courses requested (Business Administration and
Accounting) in 2016.
POSSIBILITY OF
GROWTH
Institution located in a region appointed by the market with high potential in the Feira de Santana microregion.LOCATION
Optimization of resources with the implementation of the Estácio model  optimization of costs with reduction
in personnel  shared Regional/Core structure
OPERATIONAL
SYNERGIES
Of the five courses offered, four are among the most sought after in the region (TOP 20 list).
COURSE
PORTFOLIO
Feira de Santana shares the same TV media with Salvador, with strong marketing synergies.TV
Two distance‐learning centers in Feira de Santana  UNESA has already been authorized and will begin in
2016.01, while Uniseb’s request has already been filed. FLEX growth potential.
DISTANCE‐
LEARNING / FLEX