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Noteworthy Exits
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Legacy
A Legacy of Entrepreneurship Since 1924
The Aisher family’s entrepreneurial history dates back to 1924, with the founding of Marley, a pioneering British manufacturing business that evolved into an international industrial group. Over the following decades, the family established and developed businesses across building materials, plastics, automotive components and retail, introducing innovative products and manufacturing technologies that helped shape their respective industries.
Building on this industrial heritage, the Aisher family and Kinled Holding Limited subsequently diversified into property development, financial services, software and venture capital, establishing a longstanding investment tradition that continues today across precision medicine, robotics, financial technology and quantum computing.
1924 — Roofing: The Origins of Marley
The story of Marley began with Owen Aisher (1876–1963), who was born on the Isle of Wight and initially trained as a plasterer before developing expertise in roofing and construction.
In the early 1920s, while building houses in Kent, Owen encountered difficulties sourcing suitable roofing materials. Recognising an opportunity, he purchased a tile-pressing machine and began manufacturing concrete roof tiles himself. Production commenced in a cowshed at Marley Farm in Kent, with just two employees.
In 1924, he formally established The Marley Tile Company, laying the foundations for what would become one of Britain’s most successful international building materials businesses.
Marley expanded rapidly, gaining admission to the London Stock Exchange in 1934. Innovation remained central to its growth. In 1937, Jack Aisher was awarded US Patent No. 2,090,928 for a machine designed to manufacture tiles, slabs and similar products. Within two years, Marley was producing nearly 200 million roof tiles annually.
By 2000, Marley employed approximately 13,000 people worldwide and had established market-leading roofing businesses in the United Kingdom, South Africa, New Zealand, Canada and Brazil.
Following Sir Owen Aisher’s death, the family continued its involvement in the business through successive generations. In 2000, the Aisher family and Kinled Holding Limited disposed of their remaining interests as Marley’s international businesses were sold for £385 million.
Marley’s British roofing operations continued to develop, becoming a leading supplier of roofing systems and roof-integrated solar solutions. In 2022, Marley UK was acquired by Marshalls for £515 million, marking another milestone in the company’s history.
Read more about Marley’s 100-year history [here].
1948 — Flooring: Innovation in Resilient Surfaces
In 1948, Owen Aisher’s children established Marley Flooring Limited, extending the family’s manufacturing interests into resilient flooring products.
The company began producing vinyl floor tiles in 1952, capitalising on growing demand for practical, durable and easy-to-maintain flooring solutions. Its products became widely used in commercial buildings, schools, hospitals and public-sector facilities throughout Britain.
One of Marley’s most important innovations was Safetred, a specialist safety-flooring range developed to reduce the risk of slipping in public and commercial environments.
The company also introduced specialist products such as StageFlor, a vinyl flooring solution designed for dance, theatre and performance applications, which remains recognised in the market today.
By 2003, Marley Flooring generated approximately US$60 million in annual revenue. In 2004, the business was acquired by Tarkett, the French-headquartered international flooring manufacturer, which subsequently listed on the Paris Stock Exchange in 2013.
1955 — Plastics: Pioneering Modern Building Products
In 1955, the Aisher family established Marley Extrusions Limited in Kent, expanding the group’s industrial activities into plastics manufacturing.
The business pioneered the development and commercialisation of plastic products for construction and domestic applications, including uPVC pipes, drainage systems, fittings and rainwater management products.
Introduced in 1959, these innovations helped establish new standards in the British building industry, offering lightweight, durable and corrosion-resistant alternatives to traditional materials.
During the 1970s, the family expanded its plastics interests into the United States through acquisitions of consumer-products manufacturers, including Ingrid Ltd and KPP Corporation.
These businesses diversified the group’s product portfolio into melamine tableware, including plates, bowls, mugs, serving dishes and picnic sets, as well as decorative giftware and household accessories.
In 1995, the group acquired SyroCo, a leading American manufacturer of injection-moulded plastic outdoor furniture, for approximately £90 million.
The plumbing and drainage operations were divested in 1999 as part of the sale of Marley Building Materials to Etex. These operations subsequently became part of Aliaxis, one of the world’s leading manufacturers of advanced fluid-management solutions.
1960 — Automotive: Advanced Materials and Component Manufacturing
The Aisher family’s entry into automotive manufacturing began in 1960, when it negotiated a licensing agreement with Davidson Rubber Company of New Hampshire, enabling Marley Foam Limited to manufacture polyurethane foam components for the automotive industry.
The business initially produced car seats, armrests, dashboards and related interior components, securing early supply contracts with major manufacturers including Ford and Rover.
In 1981, Marley acquired a majority interest in British Moulded Fibres Limited, broadening its manufacturing capabilities to include door panels, seat backs, glove compartments and fascia components.
By the early 1990s, the automotive division had become an established supplier to leading international vehicle manufacturers, including General Motors, Nissan, Jaguar, Volvo and Aston Martin.
Its activities extended beyond interior systems into exterior components, including bumpers, spoilers and wheel arches. Manufacturing operations included a Netherlands facility jointly owned with Textron Corporation, alongside UK operations developed in collaboration with Japanese automotive supplier Kanto Seiki, subsequently part of Marelli.
In 1996, the automotive business was sold to Magna International for approximately US$110 million.
1959 — Retail: Building One of Britain’s Largest DIY Chains
The Aisher family’s retail activities began in 1959 with the opening of its first store in Southampton, initially established to sell Marley building products directly to homeowners.
The business grew rapidly, expanding to 184 stores by 1970 and approximately 300 stores by 1980.
Originally focused on roofing, flooring, plumbing and other construction materials, the retail operation progressively evolved into a comprehensive home-improvement business. Its product range expanded to include wallpaper, paint, wall tiles and products supplied by third-party manufacturers.
As consumer demand and retail formats changed, the company transitioned from smaller high-street premises to larger stores and purpose-built DIY superstores.
During the 1980s, the business adopted the Payless DIY brand in response to an increasingly competitive home-improvement market.
By 1990, Payless had become the third-largest DIY retailer in the United Kingdom. The business was sold for approximately £85 million and merged with the Do-it-All retail chain associated with WH Smith and Boots. The combined retail operations were ultimately absorbed into the business now associated with Wickes.
Diversification Beyond Marley
1973 — Marine Infrastructure: MDL Marinas
In 1973, Kinled and the Aisher family became founding shareholders of MDL Marinas, a business that developed into one of Europe’s largest marina operators.
MDL pioneered the development and professional management of modern leisure-marina infrastructure, helping to transform the British recreational boating industry.
The business expanded through the acquisition, development and operation of marina facilities, creating a network of boating destinations and associated marine services.
In 1985, MDL Marinas was introduced to the London Stock Exchange, marking a successful milestone in the family’s investment in marine infrastructure.
Today, MDL remains one of Europe’s leading marina groups, with a history spanning more than five decades.
Read more about MDL Marinas’ history and 50th anniversary [here].
1970s — Building Materials: Expansion into the United States
During the 1970s, Kinled and the Aisher family broadened their international industrial investments, particularly in the United States.
Among these investments was General Shale, which became one of America’s largest brick manufacturers.
General Shale was subsequently acquired in 1999 by Wienerberger, the Austrian-headquartered international building materials group and one of the world’s leading brick manufacturers, in a transaction valued at approximately US$260 million.
This investment reflected the family’s continued interest in industrial businesses combining established manufacturing capabilities, significant market positions and opportunities for international growth.
1980s — Real Estate: International Property Development
During the 1980s, Kinled expanded its activities into international property investment and development, undertaking projects across the Caribbean and Mediterranean.
Among its most notable investments were land-development interests at Mayfield Beach, near Xanadu on Grand Bahama, and significant property holdings in Palma de Mallorca, Spain.
In 1988, Kinled’s interests in the landmark Portixol area of Palma de Mallorca were sold to Dragados and Polar as part of a redevelopment programme valued at approximately £95 million.
These investments established a foundation for Kinled’s continuing involvement in international real estate.
Today, Kinled maintains property interests across Austria, Switzerland, Spain and the United Kingdom, together with agricultural landholdings in Argentina.
1990s — Software and Defence Technology
In the early 1990s, Kinled and the Aisher family began investing in emerging software and technology businesses, marking an important transition from traditional industrial investments towards venture capital and advanced technology.
Among the earliest investments were businesses developing geospatial data-management software for aerospace, defence and government applications.
These technologies enabled the management, visualisation and analysis of complex geographic and spatial information, supporting applications ranging from defence planning to infrastructure and operational intelligence.
Kinled’s portfolio included technology companies serving government and military customers across 140 countries, including the United States Department of Defense and the United Kingdom Ministry of Defence.
This early exposure to sophisticated software, mission-critical systems and advanced engineering laid the foundations for Kinled’s subsequent focus on deep technology and innovation-led businesses.
Patrick Aisher
Celebrating 25 years as Chairman
Kinled Holding: Four Generations of Investment and Innovation
From Industrial Entrepreneurship to Global Venture Capital
Since 1992, Patrick Aisher, the great-grandson of Marley founder Sir Owen Aisher, has focused on establishing, developing and investing in businesses operating at the intersection of advanced engineering, science and technology.
He joined the board of Kinled Holding Limited in 1995, continuing the family’s longstanding tradition of entrepreneurship, industrial innovation and international investment.
Over more than three decades, Kinled has built a diversified investment portfolio comprising over 175 companies, combining direct equity investments with participation in approximately a dozen specialised alternative investment funds.
The portfolio has evolved alongside technological progress, moving from industrial manufacturing and enterprise software into sectors where scientific discovery, engineering expertise and technological innovation have the potential to transform established markets.
Today, Kinled’s principal investment activities are concentrated in four areas:
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Precision Medicine and Biotechnology: Supporting advances in diagnostics, oncology, therapeutics and personalised healthcare.
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Medical Technology and Robotics: Investing in sophisticated medical devices, automation, surgical technologies and advanced engineering.
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Financial Technology: Backing innovative financial infrastructure, digital banking, payments and software-enabled financial services.
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Quantum Computing and Deep Technology: Investing in emerging quantum technologies, advanced computing, photonics, semiconductors and next-generation technological infrastructure.
Kinled’s investment history includes more than 20 successful exits to strategic acquirers and 25 portfolio companies reaching public-market listings, reflecting a sustained commitment to identifying, financing and developing innovative businesses.
From a small concrete roof-tile manufacturing operation in Kent in 1924 to an international portfolio spanning some of the world’s most advanced scientific and technological industries, the Aisher family’s history represents more than a century of entrepreneurship, innovation and long-term investment.
Today, Kinled Holding Limited continues that tradition as a privately owned international investment company, combining four generations of industrial and commercial experience with a forward-looking commitment to transformative technologies.
