Stephen McDermott has served as a Managing Director of ClearThink Capital since 2021. Mr. McDermott is a Serial entrepreneur who has served as CEO of several public and private companies in the finance, technology, and healthcare arenas. With additional experience in investment banking and institutional sales. Mr McDermott has proven success piloting startups and established companies across multiple industries, both public and private. He is poised to guide organizations through a myriad of transactions and endeavors. Mr McDermott excels at proactively identifying and avoiding potential pitfalls, mitigating risk, and saving a tremendous amount of time and capital. Mr. McDermott partners with other senior executives on a multitude of strategic business initiatives to drive large-scale growth.
Most recently, Mr. McDermott was the President of Kingsbury Companies where he advised small and medium-sized businesses seeking to raise capital or prepare for various transactions (equity raises, bank loans, credit facilities, etc.). He helped clients to prepare for the due diligence process and investor presentations, substantially increasing their prospects of securing capital. Some examples of his accomplishments during his time at Kingsbury, he supported a cannabis company in cultivating strategic hemp and CBD lab relationships in addition to developing CBD products such as crude, distillate, isolate, Delta-8, and Delta-10. Mr. McDermott assisted a mobile hemp drying services company with conducting critical dryer research, procurement, negotiating contracts, and drying scheduling and logistics.
Prior to his time at Kingsbury, Mr. McDermott was CEO of ProMac from 2007 to 2014. ProMac was a true startup, which he founded and operated as a microloan company focused on the medical community. Mr. McDermott piloted the business from ideation through funding and execution, ultimately achieving revenue of $15MM, EBITDA of $1.5MM, and a successful sale to one of the largest lending companies in the US.
Mr. McDermott holds a BBA from Syracuse University and is a long-term board member of Island Harvest (Long Islands Food bank).