History

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The Ser Educacional Group was created in 1993, with the foundation of the Bureau Jurídico Educational Complex, led by Professor José Janguiê Diniz ("Janguiê"), who conducted preparatory courses for public examinations, a novelty in the city of Recife. In the same year, Janguiê began to invest in holding national and international congresses in the legal area. With the success of the brand, in 1999, the Bureau Jurídico Educational Complex started to offer specific entrance exam courses for the Law course.

In 2003, with the publication in the Diário Oficial da União of MEC‘s ​​ordinance 1,109, Faculdade Maurício de Nassau, maintained by the ESBJ - Higher Education Bureau Jurídico Ltda., successor of the Educational Complex Bureau Jurídico, was officially founded. In parallel, it receives authorization for the operation of courses in Law, Administration, Social Communication and Biomedicine. The decision to create a college came from Professor Janguiê himself, who, recognizing the need of the local market, committed himself to the development of a quality higher education project and, knowing the history of Recife, named Faculdade Maurício de Nassau in honor to the figure of the extraordinary entrepreneur Maurício de Nassau, recognized by all Brazilians.

In just over three years of existence, Faculdade Maurício de Nassau has consolidated itself as an outstanding educational institution in the North and Northeast regions of the country, focusing its management on the growth and expansion of its structure, with the objective of making its project of expansion to the main municipalities in the North and Northeast.

In 2006, Faculdade Maurício de Nassau acquired the sponsoring institutions of João Pessoa and Campina Grande, in the state of Paraíba.

In 2007, Faculdade Maurício de Nassau implemented the Advisory Board as a way to guide its strategies. One of the main duties of the Board, together with Hopper Consultoria Educacional, was to redefine the company‘s strategic planning. In parallel with these projects, Faculdade Maurício de Nassau inaugurated the João Pessoa and Campina Grande units. In the same year, the Maurício de Nassau University Group accredited and put into operation the Joaquim Nabuco Faculty, in the city of Paulista, in the State of Pernambuco, which is a new business model, geared towards the C and D classes.

Continuing the expansion project and with the aim of consolidating our corporate governance policy, in 2008 a Board of Directors was created, composed of shareholder representatives and professionals recognized in the market for their achievements in large business groups in Brazil. In October of the same year, Cartesian Capital Group joined the Maurício de Nassau University Group with a contribution of R$48 million, now holding an 11.3% stake in ESBJ‘s total shares.

Also in 2008, Faculdade Joaquim Nabuco opened a new unit in the center of Recife, having also carried out the acquisition (i) of FABAC (CETEBA - Teaching and Technology Center of Bahia Ltda.), in the municipalities of Salvador and Lauro de Freitas, in the state of Bahia; (ii) of ESAMC (ADEA - Society for Advanced Educational Development Ltd.), located in the municipality of Maceió, in the State of Alagoas; and (iii) Faculty CDF (SECARGO - Sociedade Educacional Carvalho Gomes Ltda.), located in the city of Natal, State of Rio Grande do Norte, continuing its expansion process in the Northeast region.

In 2009, the Maurício de Nassau University Group redefined its academic guidelines and, as a consequence, unified the curricular matrices and the teaching plans of the subjects, starting the methodology of the electronic journal and the academic audit process (more information in item 7.3 of this Reference Form).

The reformulations and the growth trajectory continued in 2010, when the University Group Maurício de Nassau received the auditors from the IFC - World Bank, resulting in the approval of a credit line in the amount of R$80 million. The University Group Maurício de Nassau started the ISO 9001 implementation project, seeking to structure the Institution for certification and, as a result, reassessed and redefined all its internal processes. That same year, it was decided, after a branding work, to change its name to Grupo Ser Educacional S.A.

In 2011, Grupo Ser Educacional SA worked to significantly increase the portfolio of courses in its teaching units. That year, the incorporations of the Aracaju and Belém units were carried out, in the states of Sergipe and Pará, respectively, in addition to the inauguration of the Mercês unit, in Salvador, State of Bahia.

Through MEC ordinance 701 in 2012, the Maurício de Nassau College, in Recife, was granted accreditation as a university center and the Faculty‘s nomenclature became UNINASSAU - Maurício de Nassau University Center. Also in 2012, UNINASSAU obtained ISO 9001 certification. In that same year, activities began at the Caruaru unit, in Pernambuco, and the units in the municipalities of Manaus and São Luís, in the States of Amazonas and Maranhão, respectively, were incorporated.

In 2013, three units were acquired in the State of Piauí (FAP Teresina, Faculdade Aliança and FAP Parnaíba), one unit in Paulista, Recife (Faculdade Destino) and one unit in Vitória da Conquista, Bahia (Faculdade Juvêncio Terra) .

Also in 2013, the year it completed 10 years of existence, the Ser Educacional group, through an initial public offering of shares (IPO), started to have its shares traded on B3, the Brazilian stock exchange , in the Novo Mercado segment, becoming part of the list of publicly traded companies with the most advanced levels of corporate governance in the market.

In 2014, the Faculdade Anglo Líder - FAL, located in the municipality of São Lourenço da Mata, in the State of Pernambuco, was acquired from the Union of Higher Education of Pará - UNESPA ("UNESPA"), sponsor of the University of Amazônia - UNAMA, in the municipality of Belém, State of Pará and the Santareno Institute of Higher Education - ISES, maintainer of Faculdades Integradas Tapajós - FIT, headquartered in Santarém, also in the State of Pará.

In 2015, continuing its expansion plan and starting to enter the Southeast region, Ser Educacional acquired, through its subsidiary CENESUP - Centro Nacional de Ensino Superior Ltda., 100% of the share capital of Sociedade Paulista de Ensino e Pesquisa S /S Ltd. (supporter of the University of Guarulhos - UNG), according to the terms and conditions set forth in the Agreement for the Purchase and Sale of Quotas and Other Covenants entered into between the parties. UNG, one of the most traditional universities in Brazil and the only one in the region of Guarulhos, currently has 5 campuses, 3 in Guarulhos (Dutra, Bonsucesso and Centro), one in the city of São Paulo (Shopping Light) and another in Itaquaquecetuba, interior of São Paulo. UNG completed 45 years of existence in 2015 and is a reference in the region in which it operates for its academic strength and diversity of lato and stricto sensu undergraduate and graduate courses (having three master‘s and one doctoral programs) and for the training of its faculty.

That same year, the acquisition of Faculdade Talles de Mileto (FAMIL) was carried out for R$6.0 million. FAMIL had 2 units, one in Fortaleza (CE) and another in Parnamirim (RN), and also signed a Maintenance and Other Covenants Onerous Agreement with Instituto Metodista Bennett, providing for the transfer of the maintenance of Centro Universitário Bennett to UNESPA for R$10 million, to be paid after the transfer of the maintenance is completed, which will allow the Company to enter the city of Rio de Janeiro already with a license from a University Center, which allows autonomy in the launch of new courses, in case of success in the transfer of maintenance process.

From the point of view of organic growth, in 2015, the Ser Educacional group obtained the approval of four new on-site teaching units, located in the cities of Petrolina (PE), Olinda (PE), Jaboatão dos Guararapes (PE) and Feira de Santana (BA), having ended the year, therefore, with 42 units. In the distance learning (EAD) segment, the group obtained accreditation from UNG, which started to operate with 6 centers, leading the group to operate with a total of 15 centers. There was also recognition of UNINASSAU‘s EAD course, which allowed the group to file requests for the opening of more than 400 distance learning centers.

In 2016, there was an expansion of activities in the Southeast region through the signing of a Non-Onerous Assignment of Maintenance Agreement from Faculdade São Camilo (FASC), in addition to the conclusion of the Onerous Assignment of Maintenance and Other Covenants of Centro Universitário Bennett, in the city from Rio de Janeiro. For operations in the Southeast and South regions, the brand UNIVERITAS was created, with FASC now operating under the name Faculdade UNIVERITAS and Centro Universitário Bennett under the brand Centro Universitário UNIVERITAS.

The Company continued its organic growth plan from 2017 to 2020, having 61 new units approved by the Ministry of Education (MEC): Jaboatão dos Guararapes (PE), Boa Vista (RR), Porto Velho (RO) ), Rio Branco (AC), Fortaleza (CE), Marabá (PA), Garanhuns (PE), Maracanaú (CE), Ananindeua (PA), Anápolis (GO), Juazeiro do Norte (CE), Sobral (CE), Mossoró (RN), Natal (RN), Brasília (DF), Arapiraca (AL), Campo Grande (MS), Macapá (AP), Cuiabá (MT), Porto Alegre (RS), Vitória (ES), Goiânia (GO ), Belém (PA), Palmas (TO), Salvador (BA), Curitiba (PR), Joinville (SC), Patos (PB), Imperatriz (MA), Campinas (SP), Betim (MG), Itabuna (BA ), Caxias do Sul (RS), Florianópolis (SC), São Bernardo do Campo (SP), São José dos Campos (SP), Uberlândia (MG), Contagem (MG), Belo Horizonte (MG), Londrina (PR) , Blumenau (SC), Campos dos Goytacazes (RJ), Divinópolis (MG), Duque de Caxias (RJ), Juiz de Fora (MG), Niterói (RJ), Pelotas (RS), Ponta Grossa (PR), Santo André (SP), Serra Talhada (PE), Sorocaba (SP), Volta Redonda (RJ), Castanhal (PA), Paraupebas (PA), Montes Claros (MG), Nova Iguaçu (RJ), Osasco (SP), Piracicaba (SP), Ribeirão Preto (SP), São Gonçalo (RJ) and São José do Rio Preto (SP). UNAMA - Universidade da Amazônia was accredited to offer distance learning in Brazil. With accreditation, UNAMA will be able to launch up to 150 centers per year. As a result, the Ser Educacional group will be able to count on a total of 800 distance learning centers. The UNINABUCO Faculties of Paulista and Recife received accreditation from the MEC as a university center, which allows them to open new courses without the need for prior approval from the MEC.

On April 16, 2019, we announced, through our subsidiary CENESUP, the acquisition of UNINORTE de Manaus (Amazonas) for a base purchase price (enterprise value) of R$ 194.8 million, of which net debt in the amount of R$ 9.8 million will be deducted, as applicable. On December 31, 2018, UNINORTE had a total of 25,200 active enrolled students, of which 23,200 were enrolled in undergraduate programs and 2,000 were graduate students, and an adjusted EBITDA of R$ 18.7 million. Through UNINORTE, we will strengthen our presence in the North region of Brazil, with a significant number of undergraduate students in the city of Manaus. The UNINORTE brand is strongly recognized in the Manaus, with 8 consecutive "top of mind" awards, and is a benchmark player in the two largest cities in the North region Brazil, being the market leader in Belém, State of Pará. On October 23, 2019, the General Superintendence of the Administrative Council for Economic Defense (CADE) has been issued a certificate approving the operation, without restrictions, and on November 1, 2019, after compliance with conditions precedent, was carried out the financial conclusion of the Contract for the Assignment and Transfer of Shares and Other Covenants, the effective transfer of all (100%) shares representing the capital stock of SODECAM - Sociedade de Desenvolvimento Cultural do Amazonas Ltda., CENESUP, a subsidary of Ser Educacional S.A.

During 2020, also through its subsidiary CENESUP, the Company made 5 acquisitions that totaled R$500.0 million in investments: UNIFACIMED (Cacoal, RO), UNESC (Vilhena, Ji Paraná, Cacoal and Porto Velho, RO), UNIJUAZEIRO (Juazeiro do Norte, CE), UNIFASB (Barreiras, BA) and the first acquisition in the edtech segment, Beduka (www.beduka.com.br). With these acquisitions, the Company will have a significant increase in its base of authorized vacancies in medicine, from 268 annual vacancies to 473, an increase of 76.5% in its base of vacancies in this course. As a result, the Company increased its penetration in its priority regions (Northeast and North), with high growth potential as they are cities with strong economic links with agribusiness, as well as adding more than seven thousand students to its base.