Clearly there must be sound investment opportunities in the crematoria and cemeteries industries; Ontario Teachers’ Pension Plan has partnered with British pension plan Universities Superannuation Scheme Ltd. to acquire the Westerleigh Group Ltd., a British crematoria developer and operator.
“This is a unique business that has established a strong position in the UK market,” Andrew Claerhout, Ontario Teachers’ senior vice-president of infrastructure and natural resources, said in a release. “Their stable revenues and resilient operating model align well with our long-term investment requirements.”
Currently, three-quarters of deaths in Britain are cremated, according to the release, and Westerleigh manages more than 30,000 funerals each year. The company was founded in 1991 and has built 13 of its 22 sites since then.