AF AB

What AF AB does

AFRY AB (formerly ÅF, headquartered in Stockholm, Sweden, founded 1895) is a global engineering and consulting firm serving the energy, industrial, and infrastructure markets. The company is structured around five integrated service divisions — Advisory (management consulting, sustainability, M&A and due diligence, market analysis, strategy, organizational transformation), Engineering and Architecture/Design (including the AFRY Architects sub-brand), Operations and Digital Solutions (Data Analytics/BI/AI, Cyber Security, Industrial IT, Asset Management, Operational Excellence), Product Design and Development (IoT, Embedded Solutions, Mechanical Design, Optics & Photonics, Test & Verification, AFRY Experience Studios), and Project Management (Construction Management, EPCM for Energy, Owner's Engineer, Lender's Engineer, AFRY RAMS, Systems Engineering). Together these divisions serve 14 industry verticals spanning Energy, Transport Infrastructure, Pulp & Paper, Water Infrastructure, Mining & Metals, Chemicals, Automotive & Vehicle, Defense, Life Science, Real Estate, Telecom & ICT, Industrial Goods Manufacturing, Food & Beverage, and Oil & Gas.

The company's underlying technology base combines deep multidisciplinary engineering expertise with applied digital capabilities — including data analytics, AI services, cybersecurity, IoT, and industrial IT — delivered across a multinational footprint spanning 20+ countries in Europe, North America, and Asia. AFRY runs dedicated sub-brands for architects, experience design, management consulting, and RAMS (Reliability, Availability, Maintainability, and Safety) risk management, which allow it to position specialist talent pools under tailored brand identities while still leveraging shared delivery infrastructure. Headcount sits in the 5,001–10,000 range and the firm has executed multiple acquisitions, most notably Pöyry in October 2018.

AFRY's business model is a project-based, scope-driven professional services model: revenue is generated through competitive bids, framework agreements, and direct enterprise engagement with government agencies, industrial companies, and infrastructure owners. Pricing is custom by project scope, complexity, and client requirements rather than list or subscription-based, and customers are reached primarily through direct senior-consultant and account-manager relationships, supported by thought-leadership content marketing across topic hubs covering energy transition, decarbonization, and future industry themes. Revenue figure, ownership structure, and management team details beyond selected department heads are not disclosed in the supplied source material.

Name

AF AB

Legal name

AFRY AB

Website

https://afconsult.com

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AFRY AB is a Stockholm-based global engineering and consulting firm, founded in 1895, delivering multidisciplinary advisory, design, digital, and project management services across 14 industry verticals including energy, transport infrastructure, pulp & paper, mining, and water, serving enterprise and public-sector clients in 20+ countries.

Ownership category

akta.pro rank

Product category

Engineering Consulting Services

NAICS

Engineering Services (541330), Environmental Consulting Services (54162)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742)

akta.pro primary industry

Instrumentation, Controls & Automation Engineering Consulting (BPAHAIAM)

Keywords

• Engineering consulting services
• Infrastructure design
• Energy advisory
• Project management services
• Sustainability consulting

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels1 record

Marketing channels4 records

Core offering

AF AB is an engineering and consulting company that delivers engineering, design, advisory, and project management services across energy, transport infrastructure, industrial, digital, and built environment markets. Its offering spans the full asset lifecycle — from feasibility studies, strategic and management consulting, and M&A advisory through detailed engineering, architecture, EPCM project execution, and operations, maintenance, and digital asset management. It also operates an in-house architect brand (AFRY Architects) and dedicated digital, AI, cyber security, IoT, and future-technologies practices.

Product overview

AFRY is a global engineering and consulting company offering a comprehensive portfolio of services across 14 industry verticals including Energy, Transport Infrastructure, Automotive, Life Science, Mining & Metals, Pulp & Paper, and Water Infrastructure. The company operates a platform-plus-services model organized into five core service divisions: Advisory (management consulting, sustainability, M&A services), Engineering, Architecture & Design (including AFRY Architects), Operations & Digital Solutions (including Data Analytics/BI/AI, Cyber Security, and Industrial IT), Product Design & Development (including IoT, Embedded Solutions, Mechanical Design), and Project Management (including construction management, Owner's Engineer, and EPCM services). The portfolio spans consulting, design, digitalization, and project execution services for industrial and infrastructure clients worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• AFRY Architects: Architecture and design services division
• AFRY Experience Studios
• AFRY Management Consulting
• AFRY RAMS

Products and services

• Advisory Services Strategy, management consulting, M&A advisory, sustainability advisory, and digital strategy services for corporate and public clients navigating transformation.
• Engineering and Design Services Full-lifecycle engineering and design across energy (hydro, thermal, wind, solar, transmission, distribution, hydrogen), industrial process (pulp and paper, chemicals, metals, mining, biorefining), and transport infrastructure (rail, roads, ports, airports).
• AFRY Architects In-house architectural design brand covering residential, commercial, healthcare, educational, and interior architecture projects, integrated with AFRY's engineering capabilities.
• Project Management Services EPCM, construction management, and owner's engineer services for industrial, energy, and infrastructure projects.
• Operations and Digital Solutions Operations and maintenance support, asset management, cyber security, and digital solutions for industrial and infrastructure operators.
• Product Design and Development IoT, embedded systems, mechanical, and digital product design and development services for industrial and consumer-facing clients.

Segments14 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sweco: Sweco is a Nordic-headquartered (Stockholm) engineering, design, and consulting firm with near-identical vertical breadth and a particularly strong overlap in transport, water, energy, and urban development. Direct Nordic peer with strongest geographic and service-line match to AFRY.
• WSP Global: WSP Global is one of the world's largest engineering professional services firms with similar multidisciplinary coverage across energy, transport, water, and environment. Like AFRY, it operates a platform-plus-services model and pursues acquisition-led growth, making it the most directly comparable peer.
• Ramboll: Ramboll is a Danish engineering and consulting firm with strong overlap in energy transition, water, environment, and infrastructure. Its multidisciplinary engineering-plus-environmental expertise mirrors AFRY's "unlocking transitions" positioning and Nordic heritage.
• Stantec: Stantec is a global engineering, consulting, and project management firm with comparable verticals (water, infrastructure, energy, buildings) and a similar geographic spread across North America, Europe, and emerging markets. Its horizontal-segment consulting-plus-design model mirrors AFRY's structure.
• Arcadis: Arcadis is a Dutch-headquartered design and consultancy firm operating across mobility, resilience, places, and water—directly overlapping AFRY's Transport Infrastructure, Water Infrastructure, and Real Estate verticals. Its European base and global delivery make it a close peer.

Broad incumbents

• AtkinsRéalis (formerly SNC-Lavalin): AtkinsRéalis provides engineering services, nuclear, project management, and consulting across energy, infrastructure, and transportation. Overlaps with AFRY's Energy, Transport Infrastructure, and EPCM capabilities but with nuclear-specific depth.
• Bechtel: Bechtel is a major global EPC and infrastructure firm with energy, infrastructure, and defense capabilities overlapping AFRY's EPCM for Energy, Transport Infrastructure, and Defense service lines. Operates as a much larger contractor rather than consultative partner.
• Mott MacDonald: Mott MacDonald is a UK-based global engineering, management, and development consultancy covering transport, energy, water, and built environment. Highly comparable in service mix and consultative engineering orientation, though employee-owned and more UK-centric than AFRY.
• Jacobs Solutions: Jacobs is a much larger global engineering and technical services firm with broad capabilities including cyber, infrastructure, and advanced facilities. Comparable to AFRY in its consulting-plus-project-delivery model but at a meaningfully larger scale across more verticals.

Emerging players

• Tetra Tech: Tetra Tech specializes in water, environment, and sustainable infrastructure consulting, overlapping strongly with AFRY's Water Infrastructure and environmental service lines. Smaller and more focused than AFRY, but represents a competing specialist with growing global reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/afkarriar
• Facebookfacebook.com/afkarriar
• LinkedInlinkedin.com/company/200205

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AF AB