Tim Ludlow Email & Phone Number

Scottsdale, Az, Us

Plainville, Ct, Us

Responsible for all aspects of finance in an ESOP capital structure. High-growth environment where ~$80M revenue in 2021 grew to $200M+ in 2024. Growth was both organic, and inorganic with 2x M&A transactions. Ultimately, led the sale of the company to Idex (IEX) for $1bn in Q3 2024.

Short-term between permanent assignments. Assisted client in International M&A transaction (Italy)

Portland, Maine, Us

Covetrus was created from the merger of Henry Schein Animal Health and Vets First Choice and is a leading tech-enabled animal health business with revenues of approximately $4bn and more than 5,000 employees worldwide. I was responsible for all aspects of integration and transformation including synergy identification of $100M+ & driving execution, creation of target operating model, naming and branding, policies and procedures, etc.

Vets First Choice was a high-growth, leading provider of technology-enabled healthcare services for companion and equine veterinary practitioners. I joined as CFO in 2015 when revenues were ~$35M and helped grow to $300M+ at the time of the merger/IPO with Henry Schein Animal Health. Key team-member in IPO of $1.5bn+

Hallowell, Maine, Us

Pine State Trading is a private company with sales of approximately $1bn. The company serves customers in all of New England and New York and is principally involved in wholesale distribution to the Convenience Store channel, the distribution of beer, wine and spirits and also the operation of a vending business.Key Responsibilities- Working closely with the CEO and family ownership, set strategic direction for the company- Critically assess all aspects of the company’s operations with a view to grow top-line performance and drive operating expense efficiency- Critically assess the company’s risk profile and implement risk management and hedging programs where applicable- Ensure that operating divisions receive timely and meaningful financial information- Set short-term (annual budget) and long-term (strategic plan) objectives for the company- Partner with ownership to ensure that incentive plans and benefit plans are competitive and drive performance- Partner in the management of the company’s defined benefit and defined contribution retirement plans- Develop and maintain relationships with key providers of financing ensuring that the company has appropriate financial flexibility at all times- Lead the finance team and aim to top-grade talent- Evaluate business development opportunities and advise the CEO and family ownership

Keene, Nh, Us

C&S, with sales of $21bn, is the largest grocery wholesaler in the country. The business purchases, stores & ships grocery products to customers. It is the 9th largest private company in the US. My responsibilities included Treasury, Real Estate, Tax & Strategic Sourcing.• Reported to CFO and CEO• In the absence of a CFO, led the finance organization in partnership with the SVP, Controller• Led efforts to create an appropriate capital structure for the company• Executed the company’s inaugural bond offering April 2010 $300mm Senior Secured Notes• Restructured credit facility to provide greater financial flexibility• Responsible for cash management operations of approximately $800MM per week• Developed & strengthened key banking relationships• Implemented risk management programs to mitigate exposure to interest rate & commodity price moves• Presented business strategy to Rating Agencies, investors, vendors & credit insurers• Member of Investment Committee for company’s deferred compensation & 401(k) plans• Proactively manage 17MM sq ft (50 +) distribution centers, 100+ retail grocery stores & 3 HQ facilities, including facility sales & lease re-negotiations, terminations, sub-leasing & sale and leaseback transactions • Manage spend of $700mm+ in consumable goods & services• Build new team to maximize targeted cost reductions of $20mm+ per year• Ensure compliance with state, local & federal tax filing requirements• Team members have moved through my team & are successfully contributing elsewhere in the business

Lawrence Township, Nj, Us

Bristol-Myers Squibb Company, a biopharmaceutical company with sales of $21bn, engages in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products• Reported to Treasurer• Led Productivity Cash Flow Initiative & developed plans to improve cash & working capital by $1bn• Worked with major business across the world to ensure appropriate resources allocated, performance measures established & appropriate goals implemented• Developed new measures of working capital effectiveness• Led domestic & international treasury operations, capital markets, FX & Debt risk management programs• Lead member of team that raised $2.5bn debt in US & European capital markets, participated in investor road show (London, Paris, Frankfurt, Munich)• Strategically restructured Company’s debt maturity profile to minimize re-financing exposure• Implemented various cash management & liquidity programs generating $100m+• Participated in preparation for quarterly & annual earnings announcements & disclosures

Lawrence Township, Nj, Us

The Technical Operations Group managed the company’s extensive network of manufacturing plants, supply chain & early stage R&D manufacturing. The network comprised more than 30 plants in more than 30 countries• Reported to Company Controller• Overall P&L responsibility for an organization that comprises a $3bn cost base, 10,000+ employees• Overall responsibility for an annual capital spending budget of $600m +• Managed a finance staff of 170+ in more than 30 countries• As a member of the senior executive leadership team I was involved in key decisions relating to;• Network rationalization of excess/non-strategic capacity• Restructuring of development organization• Investment in new capability & technology • Resource Prioritization• Quality & Compliance• The Tech Operations group was integral to the company’s tax & treasury planning

Lawrence Township, Nj, Us

• Reported to TechOps CFO• Developed & implemented annual business plan for $3bn manufacturing cost base• Developed financial analysis to support Biologics manufacturing strategy encompassing a number of alternatives for key new technology • Developed manufacturing network rationalization proposals• Developed cost reduction initiative (2002) that realized $40m

Lawrence Township, Nj, Us

The Latin America & Canada region comprised approximately $1bn in sales & $300-400mm in pre-tax earnings• Reported to Regional President• Developed & implemented annual business plan for $1bn regional business• Restructured Brazil business to appropriately reflect business needs• Extensive travel throughout region, supported 10+ countries

Lawrence Township, Nj, Us

BMS Turkey was a business of $100-$200mm in sales & pre-tax earnings of $40-80mm• Reported to Regional CFO• Co-led (with CEO), developed & implemented rescue plan for over-reaching business• Implemented controls over working capital to protect against chronic devaluation & inflation• Restored integrity to finance function & built new team

Lawrence Township, Nj, Us

BMS South Africa was a business of $75-$100mm in sales & pre-tax earnings of about $30mm• Reported to Regional CFO• Led the consolidation of 4 businesses to create financial shared organization• Implemented internal control standards • Developed plans to integrate distribution function to joint venture with 10 other businesses• Led divestiture of manufacturing facility• Developed & implemented enterprise wide marketing expenditure system

Lawrence Township, Nj, Us

BMS (Consumer) UK was a business of $100-$150mm in sales• Led development of & managed annual business plan for $100m Clairol consumer products business

Lawrence Township, Nj, Us

This company was an acquisition which we were integrating into the BMS family• Integrated $50m FMCG skincare products business in to B-MS

Lawrence Township, Nj, Us

BMS (Consumer) UK was a business of $100-$150mm in sales• Provided financial shared services (GL/AP/AR/Payroll/Treasury) to 2 UK businesses• Implemented enterprise wide business planning & control system