Navarino founders and asset manager ICG buy Viasat’s minority stake in Navarino

Navarino today announced that its founders Dimitris and Panos Tsikopoulos have entered into an agreement with ICG’s European Corporate team to support the next stage of the Company’s growth.

Navarino, a leading maritime technology company, has established itself over the past 25 years as a trusted partner to vessel owners and managers worldwide, delivering a comprehensive suite of critical technology, connectivity, and cybersecurity services. The company’s consistent growth and commitment to innovation have positioned it as a market leader.

As part of the transaction, Navarino’s founders will reinvest in the business, while existing investor Viasat will exit. ICG will collaborate closely with Dimitris and Panos Tsikopoulos, who will retain control of the company, providing a bespoke financing solution to support their long-term strategic objectives.

Domius Capital Advisors LLP acted as exclusive financial advisor to the founders and Navarino.

ICG’s European Corporate strategy has a 36-year track record and specialises in flexible, tailored solutions that empower founders and management teams to achieve sustainable, long-term value creation.

Dimitris and Panos Tsikopoulos at Navarino, commented:

“We are delighted to join forces with ICG at an important inflection point for Navarino and the broader maritime industry. Our focus remains on enhancing the quality and breadth of the products and services that we deliver to our clients. Our partnership with ICG will enable us to accelerate growth by leveraging ICG’s strategic expertise and financial resources. We thank Viasat for the long-term investment in Navarino and look forward to our ongoing commercial relationship and further enhancing the client experience for our trusted partners.”

Stelios Elia, Managing Director, European Corporate at ICG, commented:

“Navarino exemplifies the qualities we seek in a partnership: an ambitious, founder-led business delivering mission-critical solutions in a resilient, growing market. We have followed Navarino’s impressive journey for many years and are privileged to invest in its future. We look forward to working closely with Dimitris, Panos, and the broader team to support their next stage of growth.”

Ben Palmer, President, Viasat Commercial, added:

‘We are grateful to Panos and Dimitris for their close partnership over many years. Our mutual investment has helped to enable Navarino’s growth and to position Inmarsat Maritime as the trusted brand in the Mediterranean maritime connectivity market. While this marks a strategic step in our ongoing initiatives to monetize certain portfolio assets, we look forward to sustaining our strong commercial relationship with the Navarino team in this key market. Furthermore, we believe that ICG is the right partner for the company’s continued expansion.”

Following the close of this transaction, expected by the end of March 2026 pending regulatory approvals, Viasat will no longer hold an equity interest in Navarino. Terms of the transaction were not disclosed.