Investors acquire £241m online electronics retailer
Cambridge-based investor Mark Reed and industry veteran Rich Marsden have announced the acquisition of Howden-based online retailer Ebuyer, which reported a £241m turnover in 2021 and employs over 200 people.
Ebuyer, owned by West Retail Group for 19 years, will be moving forward with direction from Reed and business partner Rich Marsden, who will become its chief executive. All assets and staff will remain in the business.
Reed, based in the Greater Cambridge Area, launched consumer electronics distributor, Realtime Distribution, in 1994. Reed and Marsden’s business relationship began, with Marsden progressing through the business to become sales director and then managing director of the group that acquired Realtime in 2013.
In 2005 Reed also founded Heaven Media, a leading marketing and creative agency for gaming and technology. Today, the agency boasts a 100-strong global team, offering services including social media, influencer marketing, PR, creative, events and esports sponsorships.
Reed said, “Having been involved in the technology and gaming space for the past 29 years, the acquisition of ebuyer.com felt like a natural step forward. Ebuyer.com has huge growth potential and we have ambitions to expand into the EU, whilst also developing our gaming and PC lines.
“Trust and respect is what has kept the relationship with Rich and I over so many years and it is that basis that this acquisition and his leadership stems from. Between Rich’s expertise in hardware and the resources at our disposal, we believe there is significant growth in the business, this is what excites us about the opportunity.”
Marsden has spent his career in gaming hardware, previously heading up several UK distribution companies,
He said, “I am excited to take the reins of ebuyer.com, a company that I have worked alongside my entire career. I have been working on this deal for some time and knew that someone like Mark was the one person I trusted to help me deliver it. We’re extremely grateful to West Retail Group for the opportunity to be the next custodians of this business and build on the great work so far.
“Ebuyer.com is now my focus and we will share our plans with partners in the coming weeks. It will be an exciting time for everyone involved.”
Ebuyer has been the leading technology online retailer in the UK for over 20 years, with a billion-pound capacity in its infrastructure. Founded in 1999, the company stocks mainstream electronics, offering everything from TVs, laptops and PCs, as well as a thriving B2B business, yet it remains a leading go-to site for computer components.
Supporting parties on the ebuyer.com acquisition includes EMW LLP, led by Nick Lloyd & Sean Halliwell, RSM, Pegasus Intelligent Corporate Finance and Dartcell. The seller was advised by Gordons LLP.