Houlihan Lokey Advises Slipstream IT

Houlihan Lokey is pleased to announce that Slipstream IT (Slipstream), a trusted technology partner serving the pharmaceutical and biopharmaceutical industry, has received an investment from GreyLion Partners LP (GreyLion), a U.S. private equity firm focused on high-growth businesses. The investment complements Slipstream’s existing equity investment from Denali Growth Partners (DGP), which also participated alongside GreyLion. The financing will further enable the company to continue investing in people, systems, and processes, while expanding its offerings in new and existing markets through organic growth and potential add-on acquisitions.

Slipstream operates at the intersection of an increasingly complex and evolving pharmaceutical and biotech landscape, in an expanding market for outsourced IT services. This latest investment will fuel the continued growth of Slipstream’s capabilities across cloud CRM solutions, R&D and commercial services, IT and end user services, AI, and information management.

“The dynamic pharmaceutical regulatory environment requires a need for compliant capabilities with specific expertise around the industry, and our suite of services is catered to support these unique requirements and complexities,” said Brandon McKay, CEO and Founder of Slipstream. “We believe there are significant opportunities to further scale our platform. Our team is thrilled to partner with GreyLion and DGP. We look forward to leveraging their long-standing experience and expertise to help us achieve our strategic business objectives.”

Slipstream’s mission is to empower life sciences organizations with pragmatic, scalable, and compliant technology solutions, enabling customers to accelerate innovation, adopt best-in-class practices, maintain digital integrity, and ultimately improve patient outcomes.

Henry Heinerscheid, Partner at GreyLion, said, “We are excited for the opportunity to serve as a strategic partner to Brandon and the Slipstream management team alongside DGP for its next phase of growth.” Ryan Anderson, Partner at GreyLion, added, “We believe there is a significant opportunity for Slipstream to continue to scale while maintaining its focus on providing best-in-class service to life science and pharma companies.”

“Since partnering with Brandon and the Slipstream team in 2022, we’ve seen firsthand their ability to build a scalable, growing, and resilient business. They’ve continued to expand the platform and solutions with strategic clarity and execution. We’re proud to continue to support a management team we deeply admire, and are excited about the significant growth opportunities ahead,” said Jesse Lane, Founder and Managing Partner of DGP. “We are looking forward to continuing to support Slipstream and to working alongside the team at GreyLion,” added Greg McDouglas, a Vice President at DGP.

GreyLion focuses on investing in high-growth businesses in the lower middle market across two sectors: (i) services and (ii) specialized industrial and manufacturing. The team seeks to partner with existing owners and management teams to deliver capital in tailored and flexible structures. GreyLion has spent nearly two decades executing a consistent strategy of investing $25 million to $125 million of capital per investment, primarily within the United States. It currently manages private equity funds with aggregate commitments of approximately $2.0 billion.

Founded in 2021, DGP is a Boston-based growth equity firm. DGP seeks to partner with exceptional entrepreneurs who are building growing, profitable, and capital-efficient companies. As of May 1, 2025, the firm manages more than $750 million in regulatory assets under management.

Houlihan Lokey served as the financial advisor to Slipstream in connection with the transaction.

Houlihan Lokey is among the most active IT services advisors in the market, having closed 35 IT services transactions in the past 24 months. This most recent transaction marks Houlihan Lokey’s first transaction in the Veeva ecosystem and further strengthens the firm’s leadership in the pharma services space.

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