AF Gruppen has agreed to acquire all shares in Claxton Engineering Services, together with the company’s senior executives, strengthening its position in offshore decommissioning, life extension and offshore wind.
The agreed enterprise value is GBP 63.5 million, equivalent to approximately NOK 800 million. The consideration will be settled in cash and financed from AF Gruppen’s liquidity reserves.
Founded in 1985, Claxton provides technology-driven services and engineering, primarily focused on offshore decommissioning. The company operates across a broad customer base, with a large share of smaller projects typically delivered on a day-rate basis. It owns and operates a fleet of surface and subsea risers, along with equipment used in offshore wind installation. Claxton employs around 400 people and reported average revenues of approximately GBP 82 million in the period 2023–2025, with an operating margin of about 14%.
Headquartered in Aberdeen, Claxton also operates facilities in Great Yarmouth, with the North Sea as its core market. The company has additional hubs in Stavanger, Houma, Singapore and Abu Dhabi. This international footprint is expected to support AF Gruppen’s offshore decommissioning activities in new regions.
The seller is Acteon Group. The transaction includes several operating companies across the United Kingdom, Singapore, Australia, Abu Dhabi, Norway and the USA.
Following completion, Claxton will operate as an independent business unit within AF Gruppen’s Offshore division.
The transaction remains subject to approval by the Norwegian Competition Authority and is expected to close in the second quarter of 2026.
