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February 23, 2026
Milbank Advises ICG on Investment in Navarino

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- • Milbank LLP advised ICG in supporting Navarino's founders, Dimitris and Panos Tsikopoulos, for the company's next growth phase. • Navarino, a maritime technology company, will see its founders reinvest while existing investor Viasat divests its minority stake. • ICG will provide a bespoke financing solution and collaborate with the founders, who will retain control of Navarino. • The Milbank team included partners and specialists in sanctions, tax, and corporate finance, advising on various aspects of the transaction.
Milbank LLP has advised ICG, the global alternative asset manager, in reaching an agreement to support the founders of Navarino, Dimitris and Panos Tsikopoulos, in their next stage of 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. Navarinoâs consistent growth and commitment to innovation has positioned it as a market leader. As part of the transaction, Navarinoâs founders will reinvest in the business, while existing investor Viasat will divest its minority stake. 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. The Milbank team was led by partners Jordan Simpson and James McClymont, assisted by Drew MacDonald, Daniel Carolan, Despoina Mangel, Chara Makrygianni, Mhairi Sinclair, Archie Hunt and Emma Bulloch. Specialist sanctions advice was provided by partner Bijan Ganji, alongside special counsel Mark Padley and Pinky Mehta, with support from associates George Widdicombe and Bridget Golob. Special counsel Shaul Steinberg addressed tax aspects, with assistance from trainee solicitor Jamie Chen. Apostolos Gkoutzinis, corporate finance partner, advised on the financing aspects of the transaction.
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