Schefenacker, the German auto-parts manufacturer and supplier, has appointed a local boutique investment bank to help with its restructuring, as it attempts to fend off a potential takeover from hedge funds.

Frankfurt-based Freitag & Co, which works across several areas including mergers and acquisitions, will work in tandem with law firm Allen & Overy to accelerate Schefenacker's operational restructuring and help safeguard its financial stability.