UK group Navarino acquires Dutch shipper Castor Marine
LONDON, 3 days ago
UK-based Navarino, a leading provider of technology and connectivity solutions to the maritime world, has annoucned that it has acquired 100% stake in Castor Marine, a leading Dutch shipping and yachting internet connectivity and IT solutions provider.
Following this deal, Castor Marine will continue to operate independently within the Navarino Group, leveraging additional resources to expand its capabilities.
This milestone marks an exciting new chapter for both organisations as they come together to better serve their customers with comprehensive, innovative solutions and a shared commitment to excellence, said a statement from Castor Marine.
Both Navarino and Castor Marine are thriving businesses with strong growth trajectories. Each serves a complementary set of customers, with whom they have co-created tailor-made technology and connectivity solutions over many years of success, it stated.
Key benefits of the deal include an expanded service portfolio, enhanced global presence and accelerated innovation, driving forward the digital transformation of the maritime industry.
Customers can expect uninterrupted service as well as access to an expanded portfolio of solutions, it added.
Ivo Veldkamp, CEO of Castor Marine, said: "I am excited to see what Castor Marine will achieve as part of the Navarino Group. This milestone unlocks new possibilities for our people and amplifies our offering."
On the strategic move, Navarino CEO Dimitris Tsikopoulos said: "Welcoming Castor Marine into the Navarino Group allows us to deliver even greater value to our customers. Together, we can offer enhanced services and exceed the high standards our customers have come to expect of us."
A key global player, Navarino has partnership with over 600 shipping companies, supporting more than 12,000 merchant vessels globally. Its long-term relationships in the maritime industry are built on a foundation of five-star customer experience, he added.-TradeArabia News Service
