Break up the firm supplying components (4,7)

I believe the answer is:

part company

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'components' is the definition.
I don't know anything about this answer so I cannot judge whether this works.

'break up the firm' is the wordplay.
'break up' becomes 'part' (synonyms).
'the firm' becomes 'company' (I've seen this before).
'part'+'company'='PART COMPANY'

'supplying' acts as a link.

Can you help me to learn more?

(Other definitions for part company that I've seen before include "Separate" , "Break up" , "Not all of the rep actors" , "Split up" , "leave" .)

I've seen this clue in The Irish Independent.

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