We are AFK

Arendals Fossekompani (AFK) is an industrial investment company that owns energy and technology related companies with an international focus area.

About us

    About us

    AFK is the majority owner of companies with more than 2200 employees in 27 countries. For more than 100 years, AFK has been a proud producer of hydro power from two power plants.

    AFK was founded in 1896 and has been listed on Oslo Stock Exchange (OSE) since 1913. Company headquarters are located in Arendal, Norway.

    Business idea

    Arendals Fossekompani combines industrial competence, commercial skills and financial strength to continually develop a portfolio of technology and energy related companies in an international market.

    Investment Strategy

    Every commitment is based on AFK having the necessary knowledge and energy to be “best owner” in a long-term perspective.

    AFK has significant experience in long term development of industrial companies. By acknowledging value, risk and capital issues, initial investments may be minority positions that can later be extended to majority or full ownership.

    AFK’s foremost responsibilityis to develop the potential of the portfolio of existing businesses through active work with the companies and an optimal use of resources across the portfolio. The investment portfolio of majority-owned subsidiaries is largely a diversified group of independent companies. However, there are industry synergies between some of the companies, for example in the field of energy. Also, there will increasingly be common denominators such as technology and digitization.

    Our history

    Dating back to 1896, Arendals Fossekompani has a long and proud history.


    1896: Company Founded
    Founded Arendals Fossekompani was founded on January 30, 1896. The original purpose was to utilize the water in Arendalsvassdraget to generate electricity. The company bought several waterfalls, including Bøylefossen and Flatenfossen.

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    1913: Power and Industry
    The building of Bøylefoss Power Plant was initiated in 1911, in parallel with the establishment of new power-intensive industry in Eydehavn, some 15 kilometers away. The first electric power from Bøylefoss was delivered to Eydehavn in the summer of 1913 – the same year Arendals Fossekompani was listed on Oslo Stock Exchange.


    1927: More Power
    Due to increased industrial demand for electric power, Flatenfoss Power Plant opens in 1927. The original plant remained operational until it was replaced in 2009.


    1960s: Financial Investor
    For decades Arendals Fossekompani built a financial capacity that eventually led to a more diversified investment strategy. At the end of the 1960s, the company’s changed its mission statement and built a portfolio of financial investments in listed and non-listed companies.


    1990s: New Opportunities
    The deregulation of the Norwegian electricity market provided new market opportunities. Arendals Fossekompani took an active role and established Markedskraft AS, a subsidiary which is an independent service provider in the Nordic and European wholesale market for electricity.


    2000s: International Investor
    In the new millennial, Arendals Fossekompani started its transformation from a local hydropower company to an international investment company. A series of successful acquisitions of Norwegian and international companies between 2004 and 2013 formed AFK as we know it today. Annual turnover has increased from around NOK 300 million to NOK 5 billion. Revenues from hydropower currently account for 3 per cent of AFK total turnover.

    Local Commitments

    Arendals Fossekompani is committed to contributing to good local communities in areas where the company operates. In and around our headquarters in Arendal and Froland, we support events and initiatives that strengthen the region.

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    Arendalsuka is an annual national meeting place for politics and business. Ever since the inception of Arendalsuka in 2012, Arendals Fossekompani has been a key supporter and main sponsor.

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    Canal Street
    Canal Street in Arendal is an annual music festival featuring Norwegian and international artists. The festival uses the maritime environments and distinctive venues that the district has to offer. Arendals Fossekompani owns 25 percent of the company behind Canal Street and sponsors the festival.

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    Frolandia features a swimming pool, bathing facilities and a wellness center. Arendals Fossekompani contributed financially to the realization of the facility which was opened in Froland municipality in 2011.

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