Networking and comms distributor Zycko has been sold off to a management buyout spearheaded by the group's managing director as the founder of the company Rory Sweet moves on.
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The deal, which was struck for an undisclosed sum, not only involves the group managing director Nick Moglia but also involves sales and marketing director David Galton-Fenzi and financial director Ken Wood.
Moglia has been with the distributor for more than a decade and takes the helm of a company that operates across the globe with some of the key territories like America already cracked.
Nick Moglia, Zycko's group managing director, said it was "looking forward to the next phase in the company's development as we deliver even more growth".
This will be achieved through a combination of vendor expansion, and further overseas offices, strengthening our position as a pan-European value-added distributor," he added.
Sweet will remain on the board as a non-executive director.