Indiana’s embedded CFO and Operating Partner firm
We Don’t Advise.
We Embed.
Investor-grade clarity. Operator-level execution. For owners building toward $1M to $50M in revenue. We embed inside your business, drive the value creation plan, and build the leadership team that runs it. Advisory if you want senior judgment on a monthly cadence. Embedded if you want both partners in the work.
Your Operating Partner. Your Team. Inside Your Business. Embedded alongside you — not advising from the outside.
100+
Quality of Earnings Engagements
$1M–$50M
Revenue Businesses We Serve
Indiana-Rooted
Midwest Reach
Retainer + Equity
Aligned on the Outcome
The Problem
Sound Familiar?
drag
01
You’re great at your craft. But the business runs through you.
02
You’re 18 months from an exit and not ready.
03
You’re building enterprise value, we can't prove it.
04
You need capital but can't get to “yes.”
05
Your team is buried in manual work and flying blind.
“These are enterprise value problems, not spreadsheet problems. We embed as your CFO Partner and Operating Partner, drive the value creation plan, and build the leadership team that runs it.”
Who We Work With
We work with the operators and investors building Indiana’s next great businesses.
Built to exit. built to last
Founder & Owner-Operators
You built it past $1M. Now you’re preparing to scale, turn it around, raise capital, or exit in the next 2–3 years. You need an embedded Operating Partner who installs the rhythm, builds the financial infrastructure buyers and lenders look for, and deploys AI to give you real leverage. We drive enterprise value now so you have options later.
Build It Right the First Time.
Growth-Stage & Emerging Businesses
Every decision you make now compounds. We build the operating cadence, financial infrastructure, and AI systems that let you scale without breaking — and position you to raise debt or equity capital when the time is right. Done right from Day 1.
From First Look to Long-Term Ownership.
ETA & Search Fund Buyers
We’re your partner through the entire acquisition lifecycle — deal sourcing, Quality of Earnings, due diligence, Day 1 CFO and Operating Partner, and post-close operations. 100+ QoE engagements means we know what kills deals before they close and what creates value after. One team, embedded from the search phase through long-term ownership.
Value Creation, Embedded.
Private Equity & Family Offices
Operator-level execution embedded directly inside your portfolio companies. We bring the operating discipline, financial visibility, and AI infrastructure most portfolio companies can’t build in-house — and we move the needle on the metrics that matter to your fund or your family’s capital.
The Limestone Standard
Investor-grade clarity. Operator-level execution.
Why Limestone
This Model Didn’t Exist in Indiana. Until Now.
Plenty of firms offer fractional CFO services. A few offer operating advisory. Almost none embed. No one else in Indiana pairs a CFO Partner and an Operating Partner inside the seat, driving the value creation plan together, on retainer for the work and equity for the outcome.
Three pillars, one plan. Operational execution from the Operating Partner. Financial discipline from the CFO Partner, where operational and financial data converge. AI and data systems through trusted partner firms. The Value Creation Plan connects all three.
We run LIMESTONE on the same operating cadence we install for you. AI under the hood lets two partners deliver judgment-grade attention to multiple businesses at once. That’s how we know the workflow holds before we recommend it for yours.
If you’re a business owner planning to scale, raise capital, or exit on a 2 to 7 year horizon, this is the model we built for you. Indiana first, then the Midwest.
What We Do
Your Operating Partner and CFO Partner.
The team inside your business.
Three seats inside your business. The Operating Partner is the quarterback, driving the value creation plan and the operating cadence. The CFO Partner is the seat where operational and financial data converge. AI and data systems are the third pillar, delivered through trusted partner firms. Acquisition Partner is project-based for buy-side work.
The Quarterback
Operating Partner
Strategy is worthless without execution. We install the operating rhythm, drive accountability, set quarterly priorities, run the weekly cadence, and connect the dots across your whole business. We’re the seat most mid-market firms are missing — the one that actually makes sure things get done.
The operating rhythm we install is what makes your business investable, scalable, and sellable.
Financial Infrastructure
Embedded CFO
Operators who do finance. Monthly close oversight, 13-week cash forecasting, KPI dashboards, lender and board reporting. Capital event prep, M&A diligence, exit readiness. Numbers ready for any audience. Ready for any stage.
This isn’t advisory from a distance. This is a real CFO seat, embedded in your team, with skin in the game.
Intelligent Systems
AI & Automation
We deploy custom AI agents, dashboards, and internal tools directly inside your operation — pulling data from the systems you already use, eliminating manual work, and giving your team real-time visibility into what matters.
Dily briefings, inbox triage, meeting capture, KPI dashboards, automated reporting — live in weeks, not months. Built inside your business, documented, and yours to own.
The Limestone Operating System
One Operating System.
Your Whole Business.
Every partnership runs on the LIMESTONE Operating System. Priorities, cadence, metrics, execution: one unified rhythm. The playbook that translates owner-level outcomes into team-level work, and turns priorities into compounding outcomes.
Priorities
Quality of Earnings Engagements
Cadence
Weekly rhythm
Priorities
What we track
Execution
Who does what, by when
How We Engage
How It Works
01
Free · Under 10 minutes
Foundation Check
A scored assessment on our website yields your Bedrock Score across four dimensions: Financial, Operational, Strategic, and Diligence Readiness. We respond within 24 hours with the right next step.
02
Free · 30 to 60 minutes with both partners
Cornerstone Session
A conversation with both partners. We name the binding constraint in the business and recommend a path. If we’re not the right fit, we’ll tell you and point you to the firm that is.
03
Paid · Two to three weeks to delivery
Quarry-to-Capstone Diagnostic
Two days on-site, two to three weeks to delivery. You receive The Capstone Report: binding constraint, supporting findings, prioritized backlog, buyer’s-eye view. A document you keep whether you engage us or not.
04
Advisory or Embedded
LIMESTONE Engagement
Advisory if you want senior judgment on a monthly cadence. Embedded if you want both partners in the seat. Driven by your Value Creation Plan. 100-Day Plan as the first deliverable. Retainer for the work. Equity for the outcome.
Where We Work
Indiana First.
Then the Midwest.
Statewide coverage. The towns nobody is looking at.
We’ll come to you. Whether you’re running a manufacturing business in Jasper, a professional services firm in Carmel, or a growing business in Evansville, we embed where you are.
Our relationships span the entire state, from the northern border to the Ohio River. Indiana first. Selectively across the Midwest when the fit is right.
“Indiana businesses are worth investing in.
Its entrepreneurs are worth fighting for.”
testimonials
What Our Partners Say
They fully embedded themselves into our business, helping us navigate complex decisions and significantly accelerating our path to market readiness. LIMESTONE’s proactive, comprehensive support has been invaluable.
They’re not just financial advisors, they roll up their sleeves and get involved in every aspect of the business. What really sets LIMESTONE apart is that they operate like true partners, not outsiders.
It is with great honor to write this review for Jared and his firm Limestone strategic partners. Jared has shown consistent knowledge in the Finance and scaling of our company. We have three complex divisions and his ability to navigate and create factual strategies has been great help the knowledge or leadership team and the company to define and pivot in areas we needed.
The Team
The People Behind the Partnership.
When we say we embed, we mean real people inside your business. Not outsourced analysts. Not a dashboard login. Here’s who shows up.
Founder & Lead Operating Partner
Jared Luegers, CFA
Jasper, Indiana · IU Kelley School of Business
Builder by instinct, operator by track record, investor by training. Has run operations through a $200M strategic sale and separately helped acquire a small Indiana operating company. Director of Strategic Initiatives at a $9B Indiana RIA, leading M&A and Midwest expansion. Founder of OWN Indiana, The Indiana Owner-Operator Network.
Lead CFO Partner
Ryan Anoskey, CPA
Evansville, Indiana · IU Kelley School of Business
Finance-first operator. Builds the systems and runs them with you. 13+ years in transaction due diligence, valuation, audit, and corporate finance, including roles at Roche and Blue & Co. 100+ Quality of Earnings engagements and valuations delivered.
Insights
Insights for Operators
Financial Infrastructure
Why Your Financials Are Costing You Capital
Most lower-middle-market businesses don’t get turned down for capital because the business is bad. They get turned down because the package isn’t built the way investors and lenders actually read.
Operations
The Operating Rhythm That Changes Everything
The difference between a business that stalls and one that compounds usually comes down to the weekly leadership meeting and the operating cadence that holds the team accountable to quarterly priorities.
M&A
What 100+ Quality of Earnings Engagements Taught Us
After a hundred Quality of Earnings engagements, the patterns are clear. Here’s what buyers actually look for and what kills deals.
Limestone Equity
We Have Skin in the Game.
We don’t just send invoices. On Embedded engagements, our compensation is structured on the long arc: retainer for the work, equity for the outcome. No commissions. No success fees. No referral kickbacks. We win when the multiple compounds.
LIMESTONE Equity is the next chapter: a future investment arm taking operator-led positions in Indiana businesses. Control acquisitions and minority stakes, in current partner firms and others we haven’t yet worked with. Operator-first from Day 1. Today, our live buyer network connects operators to ETA, search funds, independent sponsors, family offices, and PE.
Empire State Building
The Pentagon
Lincoln Memorial
National Cathedral
Indiana limestone built the most enduring structures in America. We’re building Indiana’s most enduring businesses.
get started
Start with Your
Bedrock Score.
The Foundation Check takes under 10 minutes. You’ll get your Bedrock Score across four dimensions, plus a 24-hour reply with the right next step. If we’re not the right fit, we’ll tell you.