Norway’s AF Gruppen has acquired Aberdeen-based Claxton, a provider of technology and engineering-based services primarily in the field of offshore decommissioning, from UK-based Acteon Group for an agreed enterprise value of £63.5 million (about €72.8 million).
The deal includes operating companies Claxton Engineering Service Ltd. (United Kingdom), and Probe Manufacturing and Fabrication Ltd. (UK), and Claxton Engineering Services Pte. (Singapore), and Claxton Services Pty. Ltd. (Australia), Claxton Engineering Services LLC SPC (Abu Dhabi), Claxton Engineering Services AS (Norway), Claxton Services Inc. (US).
Claxton will operate as an independent business unit within AF Gruppen’s overseas business area.
AF Gruppen said the acquisition strengthens and complements its existing offshore operations and provides a platform to further develop service offerings towards new growth areas, including offshore wind and adjacent markets, with the potential for AF Offshore Decom to move into new geographies.
“For more than 20 years, AF Gruppen has built strong expertise in the removal and recycling of offshore facilities. By combining AF Gruppen’s extensive project and implementation capabilities with Claxton’s innovative strength and proprietary range of equipment and technologies, we will strengthen and expand our range of services in the field of offshore decommissioning, offshore wind and conventional energy.” He said Amond TuftumCEO of AF Gruppen.
Founded in 1985 and headquartered in Aberdeen, Claxton operates facilities in Great Yarmouth, with the North Sea as its main market, as well as centers in Stavanger, Norway, Houma, Louisiana, Singapore, and Abu Dhabi, UAE.
According to AF Gruppen, Claxton owns and operates a large fleet of cranes and surface and subsea equipment for offshore wind installation services, with its services focused on late-stage and end-of-life assets. The company has 400 staff and average revenues of around £82m in 2023-25, with an operating margin of around 14%.
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 funded from AF Gruppen’s liquidity reserves.
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