The circular economy refers to a cluster of strategies which are necessary in the pursuit of more sustainable production-consumption systems. In despite of the importance of repair and remanufacturing in the context of circular economy and sustainability, research in value creation within this sector is limited. There is little empirical evidence pertaining to the different ways that repair and remanufacturing activities can contribute to value creation across firms. This study therefore aimed to investigate value creation in the circular economy, particularly in context of fifteen repair and remanufacturing firms. Through a multi-method approach, data pertaining to value creation strategies were collected in both original equipment manufacturers (OEMs) and non-OEMs, and inductively analyzed with the aid of mapping tools. As a result, four generic patterns of value creation were identified, expanding upon previous literature by highlighting that ‘OEM status’ and ‘servitization’ are important variables of value generation.