ICG Infra agrees to acquire Westerleigh Group from Ontario Teachers’ and USS

ICG Infra, the European infrastructure arm of ICG, has agreed to acquire Westerleigh Group from Ontario Teachers’ Pension Plan and Universities Superannuation Scheme (USS). Westerleigh Group is the UK’s largest private operator of crematoria and cemeteries.

Ontario Teachers’ and USS have jointly owned Westerleigh since 2016. Founded more than 30 years ago, Westerleigh operates 42 crematoria across England, Scotland and Wales.

Under Ontario Teachers’ and USS’s ownership, the company has opened 21 new crematoria since 2016, becoming the UK’s largest developer of new crematoria, with additional sites under development. Westerleigh has also rolled out its SuperVenue concept, allowing families to create more personalized funeral services, and developed a cremation funeral plan offering.

ICG Infra will partner with Westerleigh’s existing management team, led by chief executive officer Debbie Smith, to support further investment across the network, new site development and service enhancements.

The deal reflects ICG Infra’s focus on essential infrastructure businesses with non-GDP-correlated characteristics and resilient demographic demand.

It follows the €3.15 billion close of ICG Infra’s second European infrastructure fund in 2025, and recent investments in Paulo Duarte Group and Comcreta.

> “Westerleigh provides an essential service to communities across the UK and has established a leading and highly reputable network of social infrastructure assets,” said Ludovic Laforge, managing director at ICG European Infrastructure, in a statement. “…Westerleigh is a strong fit with our strategy, and we look forward to supporting its next phase of growth.”

The transaction remains subject to customary regulatory conditions and approvals and is expected to complete in the fourth quarter of 2026.