Turnaround firm Hughes Armstrong Industries has made changes to its management team, bringing in PHD Equity Partners' David Riley as partner and moving founder Steve Lord to lead a portfolio company.
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With the fresh capital, IM Square plans to acquire three to six additional asset managers
Historical investors, including the Region Paris Venture fund and Sibessor2/Investessor, also take part
Early-stage investors High-Tech Gründerfonds and Bayern Kapital are also taking part