AF Gruppen — M&A Activity 2026

May 21, 2026

AF Gruppen completes the acquisition of Claxton Engineering Services

AF Gruppen completes the acquisition of Claxton Engineering Services

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.

For further information:

Chief Executive Officer, AF Gruppen, Amund Tøftum, tel. +47 920 26 712

EVP Offshore, AF Gruppen, Lars Myhre Hjelmeset, tel. +47 970 39 084