Green Flag's current owner, Cendant Corporation, has announced that it intends to sell its breakdown recovery operation as part of a major re-organisation. And Helphire has already shown it is serious about taking a significant share of the market after it revealed it was one of the losing bidders for RAC Motoring Services, which will be acquired by Lex Service as part of a £437million deal.
Mark Jackson, Helphire's deputy chief executive and resources director, said that the credit hire firm was still on the acquisition trail, with breakdown services very much in the frame. 'Our bid for RAC Motoring Services was not very different to the winning bid, although ours was not all cash. We are keeping an eye on other organisations in the market and seeing what happens with companies including Green Flag.'