Nordwind Capital, a German private equity firm which specialises in restructuring distressed companies, has bought an insolvent automotive group as further troubles are expected to hit the sector in Germany.

Nordwind, which is headed by former general manager of the Carlyle Group in Germany, Hans Albrecht, acquired ISE Innomotive and ISE Industries in a transaction which promises to secure 2,200 of the company’s 2,380 jobs.