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Norway’s AF Gruppen is acquiring Aberdeen-headquartered Claxton from Acteon Group for an agreed enterprise value of GBP 63.5 million (around EUR 72.8 million).
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The transaction comprises the operating companies Claxton Engineering Service Ltd. (UK), Probe Manufacturing and Fabrication Ltd. (UK), Claxton Engineering Services Pte. Ltd. (Singapore), Claxton Services Pty. Ltd. (Australia), Claxton Engineering Services LLC SPC (Abu Dhabi), Claxton Engineering Services AS (Norway) and Claxton Services Inc. (US).
Claxton will operate as an independent business unit within AF Gruppen’s Offshore business area.
AF Gruppen said that the acquisition strengthens and complements its existing offshore operations and provides a platform for further development of service offering towards new growth areas, including offshore wind and adjacent markets, with potential for AF Offshore Decom to move into new geographies.
“Over more than 20 years, AF Gruppen has built strong expertise in removal and recycling of offshore installations. By combining AF Gruppen’s broad project and execution capabilities with Claxton’s innovative strength, equipment portfolio and proprietary technologies, we will strengthen and expand our service offering within offshore decommissioning, offshore wind and conventional energy,” said Amund Tøftum , CEO of AF Gruppen.
Founded in 1985 and headquartered in Aberdeen, Claxton operates facilities in Great Yarmouth, with the North Sea being its main market, in addition to hubs in Stavanger in Norway, Houma in Louisiana, Singapore, and Abu Dhabi in the UAE.
According to AF Gruppen, Claxton owns and operates a substantial fleet of surface and subsea risers and equipment for installation services in offshore wind, with its services focused on late- and end-of-life assets. The company has 400 employees and reported average revenues of approximately GBP 82 million in the period 2023–2025, with an operating margin of around 14 per cent.
The transaction is subject to approval by the Norwegian Competition Authority and is expected to be completed during the second quarter of 2026. The consideration will be settled in cash and financed from AF Gruppen’s liquidity reserves.
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13 days ago
about 3 months ago
Norway’s AF Gruppen is acquiring Aberdeen-headquartered Claxton from Acteon Group for an agreed enterprise value of GBP 63.5 million (around EUR 72.8 million). The transaction comprises the operating companies Claxton Engineering Service Ltd. (UK), Probe Manufacturing and Fabrication Ltd. (UK), Clax
