AF Gruppen has acquired all shares in Claxton Engineering Services to strengthen its position in offshore decommissioning, life extension and offshore wind.
The agreed enterprise value is $86.1 million (£63.5 million), with the consideration to be paid in cash and financed from AF Gruppen’s liquidity reserves.
Claxton, founded in 1985 and currently owned by Acteon Group, provides technology-driven services and engineering mainly for offshore decommissioning and has international operations, around 400 employees and revenues exceeding $110 million.
The company owns and operates a fleet of surface and subsea risers and equipment used in offshore wind installation, with services focused on late- and end-of-life offshore assets.
“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.
The business will operate as an independent unit within AF Gruppen’s offshore division, providing a platform for expansion into offshore wind and adjacent markets.
Headquartered in Aberdeen, Claxton operates in key offshore regions including the North Sea, with additional hubs in Norway, the United States, Singapore and Abu Dhabi.
The transaction is subject to approval by the Norwegian Competition Authority and is expected to close in the second quarter of 2026.
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