Aitken Spence: The Sri Lankan Blue Chip Conglomerate

Recognized by Forbes as one of the most successful publicly traded companies, Aitken Spence PLC definitely has a notable history and continuing legacy. Operating in the South Asia, Middle East, Africa, and the Pacific, it does not focus on just one industry—it has major interests in travel, hotels, maritime services, power generation, and logistics. The conglomerate also has significant global presence in financial services, plantations, IT, printing, BPO/KPO, elevator agency services, property development, and garments industries. It has also been listed in the Colombo Stock Exchange since 1983.

The roots of Aitken Spence can be traced back to the Wilson & Archer Partnership of the 1830s. However, it began to adopt its current form after the formal partnership agreement between Patrick Gordon Spence and Thomas Clark was signed. The two were successful Scottish merchants and shipping agents. The agreement was signed on September 1 1868 in Galle, and this marked the establishment of Clark Spence & Co.

At that time, Clark Spence & Co.’s trading department included exports of gems, hides, natural vein graphite, sapanwood, coffee, ebony, coconut oil, and citronella oil, as well as coir yarn, arrack, and bristle fiber. They did business with clients in the United Kingdom, USA, Continental Europe, and Australia. Meanwhile, the company also imported Burmese rice and coal for steamer ship bunkers.

On April 5, 1871, Patrick Gordon Spence secured Clark Spence & Co., making it the sole agent of Lloyd’s of London in Ceylon. The company has to partner with Britton, Aitken & Co. so that it can service the Agency for the Lloyd’s of London for the Port of Colombo, and to open an office there. On New Year’s Day of 1973, E.C. Britton separated from Aitken & Co. This resulted to Patrick Gordon Spence, Edward Aitken, and S.R. Aitken’s coming together to form what is now known as Aitken Spence (Aitken Spence & Co.).