AF Gruppen completes the acquisition of Claxton Engineering Services
21.5.2026 14:02:20 CEST | AF Gruppen | Press release
In a stock exchange announcement on 15 April 2026, AF Gruppen disclosed that it had entered into an agreement to acquire all the shares in Claxton Engineering Services. AF Gruppen has today completed the acquisition of these shares.
The enterprise value is GBP 63.5 million, corresponding to approximately NOK 800 million. The consideration is paid in cash and is financed from AF Gruppen’s liquidity reserves.
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. (USA).
Claxton will be organised as a new business unit within the Offshore business area of AF Gruppen.
Contacts
Amund TøftumCEO
Tel:+47 920 26 712Amund.Toftum@afgruppen.noLars Myhre HjelmesetExecutive Vice President Offshore
Tel:+47 97039084LarsMyhre.Hjelmeset@afgruppen.noImages
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About AF Gruppen
AF Gruppen is a leading contracting and industrial group that was formed by an entrepreneurial spirit and execution capabilities. The group has 6,000 employees and revenue reached NOK 31,9 billion in 2025. AF Gruppen is listed on Oslo Stock Exchange (AFG).
We provide a broad range of services with seven operational business areas: Civil Engineering, Building, Betonmast, Property, Energy and Environment, Sweden and Offshore.
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