ICG Infra, the European infrastructure arm of ICG, has agreed to acquire Westerleigh Group, the UK's largest private operator of crematoria and cemeteries, from Ontario Teachers' Pension Plan and Universities Superannuation Scheme (USS). 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, according to the business, with additional sites under development. Westerleigh has also rolled out its Super Venue 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.

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