Norwegian company AF Gruppen has agreed to acquire Claxton, headquartered in Aberdeen, from Acteon Group for GBP 63.5 million (approximately EUR 72.8 million).
The acquisition includes 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).
Following the acquisition, Claxton will function as an independent unit within AF Gruppen’s Offshore business sector.
AF Gruppen stated that this purchase enhances its existing offshore capabilities and offers a platform to further expand its services into new growth areas such as offshore wind and related markets. This move could allow AF Offshore Decom to explore new geographic regions.
“Over more than 20 years, AF Gruppen has developed strong expertise in the removal and recycling of offshore installations. By merging AF Gruppen’s broad project and execution capabilities with Claxton’s innovative strength, equipment portfolio, and proprietary technologies, we will enhance and expand our service offerings within offshore decommissioning, offshore wind, and conventional energy,” stated Amund Tøftum, CEO of AF Gruppen.
Claxton, established in 1985 and based in Aberdeen, has facilities in Great Yarmouth and primarily serves the North Sea market. Additionally, it has hubs in Stavanger, Norway; Houma, Louisiana; Singapore; and Abu Dhabi, UAE.
AF Gruppen highlighted that Claxton maintains a substantial fleet of surface and subsea risers, providing installation services in the offshore wind sector, with a focus on late- and end-of-life assets. Claxton employs around 400 staff and reported average revenues of roughly GBP 82 million between 2023 and 2025, with an operating margin of approximately 14%.
The deal requires approval from the Norwegian Competition Authority and is anticipated to close in the second quarter of 2026, with the purchase being cash-settled using AF Gruppen’s liquidity reserves.
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