East Yorkshire tech retailer Ebuyer purchased from West Retail Group

All assets and staff will remain in the business, with Mr Marsden taking on the role of CEO.

Commenting on the acquisition, Mr Reed said: “Having been involved in the technology and gaming space for the past 29 years, the acquisition of Ebuyer felt like a natural step forward.

“Ebuyer has huge growth potential and we have ambitions to expand into the EU, whilst also developing our gaming and PC lines.”

Last year, Ebuyer’s previous owner West Retail Group announced that its turnover had reached £1.16 billion for the year ending December 2021, up from £938.2 million the year prior.

The group also operates furniture manufacturer Wren Kitchens.

Based in the Greater Cambridge Area, Mr Reed launched consumer electronics firm Realtime Distribution in 1994.

Previously heading up several UK distribution companies, Mr Marsden has spent his career in gaming hardware.

The pair met in 1999, as Mr Marsden progressed through Realtime Distribution to become sales director, then managing director of the group which later acquired the company.

Mr Reed added: “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.”

In 2005, Mr Reed also founded Heaven Media, a marketing and creative agency for gaming and technology, which now employs around 100 staff.

Originally founded by Plusnet Technologies co-founder Paul Cusack, Ebuyer began life in 2000, based from a garage in Rotherham.

The firm grew to be one of the UK’s biggest online technology retailers within four years of being founded, reaching a turnover of £220 million from an initial investment of £250,000.

Mr Marsden said: “I am excited to take the reins of Ebuyer, 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 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.”

Supporting parties on the Ebuyer acquisition include: EMW LLP, led by Nick Lloyd & Sean Halliwell, RSM, Pegasus Intelligent Corporate Finance and Dartcell.

The seller was advised by Gordons LLP.