On 27 November 2020, Castor Marine purchased the Goodwill and Assets from SeaVSAT. SeaVSAT was declared bankrupt on 23 November 2020 and the transaction was signed between Castor Marine and the trustee (curator) Mrs E.H. Bruggink of SeaVSAT. This transaction was approved by the banks involved and the examining magistrate (rechter-commissaris).

Castor Marine purchased the Goodwill including trade names, customer information, phone numbers, domain names, website, including all intellectual property rights of SeaVSat BV, as well as the agreements with customers, the sales pipeline and active proposals.

Castor Marine also purchased the assets from SeaVSAT including equipment owned by SeaVSAT on vessels and the stock in the warehouses in the Netherlands and Scotland.

In a separate agreement Castor Marine purchased equipment leased by SeaVSAT from CHG Meridian to ensure smooth transition for the customers involved.

Castor Marine did not acquire and does not have any obligation on current supplier contracts and/or debts of SeaVSAT. It is up to Castor Marine to decide which supplier contracts it wishes to take over.