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Bidders circle as Pointon York prepares for sale

Pointon York, one of the oldest Sipp providers in the UK, is for sale, with the company’s board looking to offload the business in the first quarter of this year, Money Marketing understands.

The firm, which launched its first Sipp product in 1990, delisted from the PLUS Market stock exchange in August 2012. At the time, chairman Geoffrey Pointon insisted the move was not a precursor to a sale.

Money Marketing understands Hornbuckle Mitchell looked at the business last year but has not followed through with a formal bid.

Pointon York executive chairman Ian Bell says: “The business receives expressions of interest from time to time. At the current time no offers for the business have been made to the board.”

Pointon York was established as a brand in 1971 and in 1990 the firm launched the PY Sipp.

The PY Sipp closed to new business in 2009 and was subsequently bought by rival provider Suffolk Life in November 2012.

In June this year, Pointon York managing director Jo French left the pensions administrator to join Hornbuckle Mitchell.

Pointon York has around £840m in assets under administration.

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