Bell Industries Inc. has sold substantially all of the assets, excluding real estate, of its J.W. Miller division to Bourns Inc. for around $8.5 million in cash, the El Segundo-based company said on Monday.

J.W. Miller, which is based in Gardena, manufactures and distributes a variety of standard and custom magnetic components used in electronic applications for computer, medical and telecommunications equipment. The unit had sales of approximately $8.4 million in 2005.

“J.W. Miller is our smallest business unit, and the sale to Bourns is in keeping with our strategy of focusing on core business operations and aligning our resources to become leaders in the key markets we serve,” said Bell Chief Executive John Fellows.

Bourns, a privately held company based in Riverside, manufactures electronic components for a broad range of markets.