MBO completes at York electronic components firm

A York-based firm which works in the electronic components industry has completed an MBO of its contract manufacturing and assembly division.
The management team at Cyclops Group has snapped up the contract manufacturing and PCB assembly division, DJ Assembly, for a six-figure sum.
The MBO is headed up by former group director of sales, Tony Hunt, and operations manager Steven Walter. They said the MBO would see the new company, which employs 25 staff and has a turnover of £2m, was well positioned to launch a growth drive.
Managing director Daniel Yodaiken said: “After bringing DJ into the Cyclops Group in 2010 we have invested in new technology and a highly skilled workforce. I now believe that this MBO is the next step in the growth of the company and with Tony and Steven we have a great combination of sales and operational expertise. We look forward to seeing the new company take great strides forward.”
Hunt will become managing director position, Walter operations director and Yodaiken will be non-executive director.