Lovell Minnick Partners Completes Sale of ALPS to DST Systems
Denver, CO, November 2, 2011 – Lovell Minnick Partners today announced that it has completed the previously announced sale of ALPS Holdings, Inc. (ALPS), a leading provider of asset servicing and asset gathering solutions to the asset management industry, to DST Systems, Inc. (NYSE: DST) for $250 million.
ALPS has been a portfolio company of Lovell Minnick Partners since September 2005 when the private equity firm acquired a majority interest. Lovell Minnick President and Managing Director, Jim Minnick, commented, “It has been a pleasure to work with Ned Burke and the rest of the ALPS team over the last six years and we wish them well in their new partnership with DST.” Spencer Hoffman, Managing Director at Lovell Minnick, added, “We have enjoyed an outstanding partnership with ALPS and congratulate them on the successful transaction with DST.”
Morgan Stanley & Co. LLC served as the exclusive financial advisor to ALPS for the transaction.
About ALPS Holdings, Inc.
Headquartered in Denver with offices in Boston, New York, and Seattle, ALPS is a 25-year-old financial services firm focused on asset servicing and asset gathering. With more than 300 employees, nearly 200 clients, and an executive team that has been in place for over 16 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2010, the firm managed more than $3.275 billion in assets and provided servicing to more than $291 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com. For additional information about ALPS products, visit www.alpsfunds.com.
About DST Systems, Inc.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST’s world-class data centers provide technology infrastructure support for asset management, insurance and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.