DST Systems unit acquiring Colorado firm for $65 million

ALPS Holdings, a financial services company owned by Kansas City-based DST Systems Inc, will pay $65 million to acquire a private equity firm from the Denver area.

Red Rocks Capital LLC, which is based in Golden, Colo., was founded in 2003 and manages about $1.8 billion in assets.

Analyst David Koning of Baird Equity Research said the deal expands DST’s ALPS business, which has been a driver of growth for the Kansas City-based company. But Koning said that, given the nature of Red Rocks’ business, forecasts for the deal’s effect on revenues and earnings were difficult to make.

Read more from the Kansas City Business Journal and the Kansas City Star

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