City Electrical Factors’ Parent Company To Acquire The Segen Group Limited

City Electrical Factors (CEF) and The Segen Group Limited (Segen) today announced that CEF’s parent company, Labora Holdings Limited (Labora), and Segen have entered into an agreement under which Labora will acquire 100% of Segen, a leading global distributor of residential and commercial rooftop solar photovoltaic (PV) systems, and its subsidiaries in the UK, Germany and South Africa. The transaction is expected to close October 2021 subject to regulatory and other approvals and conditions. Labora and Segen will remain separate and independent companies until closing of the proposed transaction.