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The depth and strength of Mr. DiGiacinto's experience provided to business clients in public and private corporate entities encompasses all three major business services provided by The Colmen Group."

David DiGiacinto
Managing Director
digiad@colmengroup.com

"Companies are still about people. How you employ and lead them with structure, flexibility, and process. The other side of the people equation is the customer. Customers will buy and appreciate if they gain the confidence of their suppliers and they see a product, operational organization, and management team which can execute consistently and successfully."

David DiGiacinto is a senior corporate executive and advisor with over 30 years of experience in several industries and disciplines. He had a distinguished business career with Pfizer, Inc. in two major Operating Groups: Specialty Chemical/Food Science and Consumer Health Care. During this time, Dave held a variety of positions in Sales, Marketing, Business Development and General Management. During his 18 year span at Pfizer, he managed businesses both, domestic and international.

Dave became Vice President of Business Development for the Spencer Trask Specialty Group, LLC (a Spencer Trask Ventures Company). Spencer Trask Ventures was a leading New York private equity investment firm with a strong tradition in discovery. The Spencer Trask Specialty Group identified leading technologies in Biotechnology, Chemistry Based Products, Medical Devices and Life Sciences.

Within 18 months, Mr. DiGiacinto became Senior Managing Director of the Specialty Group with specific responsibilities to identify, evaluate and negotiate equity positions for companies meeting the Group’s portfolio criteria. Once a company or technology was identified and screened, it was up to the Senior Managing Director to sponsor the investment candidate through the review process, and then finalize the business proposition between Spencer Trask and the company.

While a client company was in the Specialty Group portfolio, Dave closely worked with company management on activities such as accomplishment of their performance milestones, recruiting, financing, marketing and defining their manufacturing capabilities. The ultimate goal was to progress the company to become a leader in a particular technical or market segment, then move it towards a potential liquidity event (acquisition, merger, or IPO). Achievement of strong financial returns for the investor was the most important measure of success. For this reason, Mr. DiGiacinto served on the Board of Directors of several client companies, both public and private. He also held roles as Audit and Compensation committee chair on some of those Boards.

After 8 years at Spencer Trask, one of those portfolio companies which was publicly traded on AMEX, Minrad International, Inc., experienced some difficult periods of financial stability to the point where the Board was forced to make a change in management structure. In 2008, Mr.DiGiacinto initially became President and Chief Operating Officer of Minrad in charge of running the day-to-day operations. On January 1, 2009, Dave became the new Chief Executive Officer.

The financial and organizational situation at Minrad (a generic anesthesia and medical device company) required a makeover. A $40 million debt financing was accomplished during an extremely difficult fundraising environment (April – May, 2008). Mr.DiGiacinto refocused and restructured the company to one primarily producing and generating cash from three inhaled anesthesia products.

Through a very challenging financial period, the company was able to stay solvent, move through a rather intense sales process, and eventually enter into a Definitive Merger Agreement with an International Healthcare Company out of Mumbai, India.

Approximately 6 months after that sales transaction, Mr. DiGiacinto took on the P & L responsibility of a $200mm private label pretzel and snack food company, managing the day to day operations. This was a closely held family owned company headquartered in Lancaster, PA. This business was successfully sold to ConAgra Foods, Inc., after 2 years of organizational redesign, and operational improvements which led to very strong earnings.

Born in Bethlehem, PA, Dave graduated from the U.S. Military Academy at West Point with a BS in Engineering and the Humanities. While at the Academy, Dave lettered in Varsity Football and Baseball. He was commissioned as a Second Lieutenant in the U.S. Air Force and became a pilot in command before he eventually resigned his commission as a Captain. Mr. DiGiacinto flew one year commercially for a private charter before he started his business career with Pfizer. He is active as a member of the Saucon Valley Country Club. Dave is also a long-standing member of the Army Athletic Association and West Point Society, Licensing Executive Society, Institute of Food Technologists, and the American Hellenic Educational Progressive Association (AHEPA).

Mr.DiGiacinto is also a current Bethlehem City Councilman. He has served on five different committees and participates in other city government programs. Mr. DiGiacinto is running for Controller for the City of Bethlehem, PA, in this November election. He is also actively involved in numerous civic and non-profit organizations in his hometown of Bethlehem, PA.

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