AF Gruppen to acquire Claxton in offshore decommissioning and wind expansion move

AF Gruppen ASA ( (AGRUF) ) has provided an announcement.

AF Gruppen ASA is expanding its offshore services portfolio by acquiring all shares in Claxton, a UK-headquartered international niche supplier of technology-driven offshore decommissioning and engineering services. Claxton, founded in 1985, operates a large fleet of surface and subsea risers and offshore wind installation equipment, posting average annual revenues of about MGBP 82 and an operating margin of roughly 14 percent between 2023 and 2025.

The transaction, valuing Claxton at MGBP 63.5 (around MNOK 800), will be settled in cash from AF Gruppen’s reserves and will create a dedicated Claxton business unit within AF Gruppen’s Offshore division. By combining AF Gruppen’s project execution capabilities with Claxton’s technology, equipment and international footprint across the North Sea, U.S., Middle East and Asia, the deal is expected to strengthen AF Gruppen’s position in offshore decommissioning, support its push into offshore wind and new geographies, and enhance its role in the broader energy transition, pending approval by Norwegian competition authorities and completion expected in the second quarter of 2026.

The most recent analyst rating on (AGRUF) stock is a Hold with a NOK196.00 price target. To see the full list of analyst forecasts on AF Gruppen ASA stock, see the AGRUF Stock Forecast page.

More about AF Gruppen ASA

AF Gruppen ASA is a Norwegian engineering and construction group with a significant presence in offshore decommissioning and recycling of installations. The company focuses on project-based services across the energy sector, and is increasingly targeting growth areas such as offshore wind and lifetime extension of offshore infrastructure.

Average Trading Volume: 38,919

Current Market Cap: NOK20.04B

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