YORK, UK – Electronic components distributor Cyclops Group has sold its contract manufacturing and assembly division to a management-led buyout team.

The MBO of DJ Assembly is headed by former group director of sales Tony Hunt and operations manager Steven Walter.

“After bringing DJ into the Cyclops Group in 2010, we have invested in new technology and a highly skilled workforce,” said managing director Daniel Yodaiken. “I now believe this MBO is the next step in the growth of the company. We look forward to seeing the new company take great strides forward.”

Hunt will become managing director, Walter operations director, and Yodaiken will be non-executive director.

DJ Assembly employs 25 staff and has revenue of £2 million.