Indiana’s Only Embedded Operating Partner Firm

We Don’t Advise.
We Embed.

We embed inside your business as your Operating Partner — backed by an Embedded CFO and AI systems that give you the financial infrastructure, real-time visibility, and execution leverage to actually move.

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
All of Indiana
Statewide Reach
Long-Term
Embedded Partnerships
Trusted by Founders, Search Funds & PE Firms Across Indiana
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The Problem

Sound familiar?

You’re great at your craft. But the business runs through you.

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You built this business because you’re great at what you do. But running the business has become a different job entirely. You’re the bottleneck on every decision, every relationship, every fire drill — and if you stepped away for a month, things would start to slip. That’s not just exhausting. It’s a value problem.

You’re 18 months from an exit and not ready.

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The clock is ticking on a sale, a recapitalization, or a transition — and the business isn’t packaged to command the multiple you’ve earned.

You’re building enterprise value but can’t prove it.

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You know the business is worth more than the numbers show — but you don’t have the financial infrastructure to prove it to a buyer, a lender, or an investor.

You need capital but can’t get to “yes.”

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Banks, PE firms, and lenders see the potential — but the financial story isn’t buttoned up. You keep getting close but not across the line.

Your team is buried in manual work and flying blind.

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No real-time visibility, no automated reporting, and every insight requires someone pulling data by hand. The leverage isn’t there — and neither is the time to build it yourself.
“These aren’t spreadsheet problems. They’re enterprise value problems — and most of them trace back to one thing: the business can’t run without you yet. We embed as your Operating Partner to change that from the inside.”
Who We Work With

We work with the operators and investors
building Indiana’s next great businesses.

Built to Exit. Built to Last.
Founders & 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.
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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.
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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.
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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.
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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. And no one else in the state pairs a true Operating Partner — the kind that runs your weekly meetings, drives the cadence, and owns outcomes alongside you — with real financial infrastructure and AI systems built into the way we work.

We lead with operations because that’s where enterprise value is created. Finance clarity and AI are how we get leverage once we’re inside. Skin-in-the-game equity is how we get aligned.

If you’re a business owner in Indiana looking to scale, turn around, raise capital, or exit in the next two to three years — this is the model we built for you.

Investor-grade
clarity.
Operator-level
execution.
The Limestone Standard
What We Do

Your Operating Partner.
Your team inside the business.

We embed as your Operating Partner — the quarterback who drives execution, sets the cadence, and connects the dots across your whole business. Our Embedded CFO and Embedded AI Agent Deployer work alongside to give you the financial infrastructure and intelligent systems that create real leverage.

THE QUARTERBACK OPERATING PARTNER FINANCIAL INFRASTRUCTURE EMBEDDED CFO INTELLIGENT SYSTEMS AI AGENT DEPLOYER ENTERPRISE VALUE
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.
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Financial Infrastructure
Embedded CFO
We build and manage your entire financial infrastructure. Monthly reporting, cash forecasting, KPI dashboards, budgeting, banking, and tax coordination. Every reporting package we build meets institutional standards — ready for banks, investors, and due diligence from Day 1.
This isn’t advisory from a distance. This is a real CFO seat, embedded in your team, with skin in the game.
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Intelligent Systems
Embedded AI Agent Deployer
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.
Daily briefings, inbox triage, meeting capture, KPI dashboards, automated reporting — live in weeks, not months. Built inside your business, documented, and yours to own.
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Acquisition Partner

From First Look
to Year 10.

Many of our partnerships start with an acquisition. We’re your partner through the entire lifecycle — deal sourcing, Quality of Earnings, due diligence, financial modeling, and deal structuring before the close. Then on Day 1, we embed as your Operating Partner and CFO to build the infrastructure, install the operating rhythm, and drive the value creation plan from the inside. One team from the search phase through long-term ownership.

We know what kills deals before they close and what creates value after — because we’ve done the work over a hundred times.

100+
Quality of Earnings
Day 1
Embedded from Close
Long-Term
Post-Close Partnership
Pre-Close Deal sourcing, QoE, due diligence, financial modeling, and deal structuring.
Day 1 Embedded CFO and Operating Partner from close. Banking, reporting, infrastructure, and operating rhythm — built immediately.
Post-Close & Beyond Long-term embedded partnership. Strategic planning, cadence, systems, AI, and sustained value creation.
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PHASE 1 Deal Sourcing Target identification, thesis alignment, initial screening PHASE 2 QoE & Diligence Quality of Earnings, financial modeling, deal structuring 100+ QoE Done DAY 1 Close & Embed CFO + Operating Partner embedded from day one YEAR 10 Long-Term Value Cadence, systems, AI, and sustained value creation COMPOUNDING
QUARRY TO CAPSTONE
The Limestone Operating System

One Operating System.
Your Whole Business.

Every partnership runs on the Limestone Operating System — one unified rhythm that connects your priorities, your people, your numbers, and your AI into a single operating cadence. It’s the playbook. And it’s why our partnerships compound instead of coast.

Priorities
What matters most
Cadence
Weekly rhythm
Metrics
What we track
Execution
Who does what, by when
Explore the Full System →
How We Engage

How It Works

01
Discovery Call
30 minutes, no pitch
We listen to where you are, where you’re trying to go, and what’s getting in the way. If we’re not the right fit, we’ll tell you.
02
Onboarding Project
2–4 weeks, fixed fee
We embed, diagnose, and deliver early wins. You’ll see exactly what embedded looks like before committing long-term. Think of it as a paid tryout.
03
Embedded Partnership
Monthly retainer
Your Operating Partner and full team, embedded inside your business. Flexible terms — if we’re not creating value, you can walk. We earn the relationship every month.
04
Equity & Value-Based Alignment
Skin in the game
In most partnerships, we earn sweat equity or take value-based incentives tied to the outcomes we help create. When you win, we win.
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Where We Work

Serving Businesses Across
All of Indiana

We work anywhere and
everywhere in Indiana.

We’ll come to you. Whether you’re running a manufacturing company 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. Local knowledge. Statewide reach.

“Indiana businesses are worth investing in.
Its entrepreneurs are worth fighting for.”
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.
Joseph Altomonte — Northwestern Golf, Google Review
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.

Jared Luegers, CFA
Founder & Lead Operating Partner
Jared Luegers, CFA
Jasper, Indiana · IU Kelley School of Business

Over a decade in institutional finance — $850M in active equity strategies, PE portfolio operations, and a key role in a $190M M&A transaction. CFA charterholder. Founded OWN Indiana, the state’s only operator-first network, now 100+ members strong.

Ryan Anoskey, CPA
Lead CFO & Partner
Ryan Anoskey, CPA
Evansville, Indiana · IU Kelley School of Business

CPA with ~100 Quality of Earnings engagements in lower middle-market PE. He knows what buyers, banks, and lenders need to see because he’s built those packages himself. Now he builds that same institutional-grade financial infrastructure inside your business.

Meet the Full Team →
Insights

Insights for Operators

Financial Infrastructure
Why Your Financials Are Costing You Capital
Most $3M–$10M businesses don’t get turned down for capital because the business is bad. They get turned down because the numbers aren’t packaged right.
Operations
The Operating Rhythm That Changes Everything
The difference between a $5M company that stalls and one that hits $15M usually comes down to a weekly cadence that takes 90 minutes.
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. In most of our partnerships, we earn sweat equity or take value-based incentives alongside our clients — because the best partnerships are the ones where our success is tied directly to yours.

Limestone Equity is the natural next step: acquiring and operating Indiana businesses using the same embedded model we’ve built our reputation on. Permanent ownership. Operator-first from Day 1.

Aligned Incentives We earn equity through the work we do. When you win, we win.
Co-Investment We put capital alongside our clients and acquisition partners.
Permanent Ownership We buy to hold and compound value over decades. No fund life. No forced exits.
Learn About Limestone Equity
FOUNDATION CAPSTONE YR 1 YR 5 YR 10 PERMANENT OWNERSHIP
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

Let’s Talk About What Embedded
Looks Like for Your Business.

30 minutes. No pitch. No pressure. We’ll give you a straight read on whether we’re the right fit — and if we’re not, we’ll tell you that too.

Book a Discovery Call
Stay in the Loop
Insights, frameworks, and resources for Indiana operators.
No spam. Just the stuff that moves the needle.