PRESS ROOM
{ Jan Peeters & Marc Coucke – Partner CIM Capital & Founder Alychlo }
In recent months, it has been a hot topic in the Belgian press, and on May 6th, everything finally fell into place. With an overwhelming majority of more than 90%, the reorganization plan submitted by restructuring fund CIM Capital was approved. "The fact that such a large group of suppliers and creditors voted 'yes' on a reorganization plan is unprecedented," said Jan Peeters, partner at CIM Capital. That Marc Coucke is also stepping into the capital with Alychlo may seem like a surprise at first glance, but it actually isn't. "When Zoute Grand Prix calls, you listen. Such an important event for Knokke-Heist, a seaside town so close to my heart, could not be allowed to disappear. I am very pleased that thanks to CIM Capital and the suppliers who approved the plan, we can also support the future of the Zoute Grand Prix," added Marc Coucke.
Why was Zoute Grand Prix an interesting opportunity for you?
Jan Peeters: We specialize in rescuing companies in distress. Several of our shareholders, such as PMV and FPIM, are government entities. For them, it is also important that we keep strategically important companies in Belgian hands. Zoute Grand Prix was a case that perfectly fit within our DNA. It is Belgian, and at the same time, a significant and important symbol of the Belgian event sector with international appeal. At its core, it was a very successful company that found itself in trouble due to COVID and a lack of financial discipline.
Marc Coucke: By now, everyone knows my connection to Knokke-Heist. When I'm in Belgium, I try to divide my free time as much as possible between Durbuy and Knokke-Heist. Knokke-Heist is a seaside town full of events and hospitality, bustling with life: people love to come here, local entrepreneurs feel at home, and the youth enjoy spending time here as well. Like any municipality or city, Knokke-Heist needs a few events with the right appeal. Along with Knokke Hippique, Zoute Grand Prix was the event par excellence. Unfortunately, the jumping event has not taken place for two years in a row. It would have been a real shame if the Zoute Grand Prix had disappeared as well. The whole world comes here every year. The concept, with its mix of vintage cars, new cars, a rally, a GT Tour, and an auction, is very well put together. Together with CIM Capital, we will create a beautiful plan to give participants and visitors an extra dimension to their experience.
Read the full article in our ZOUTE GRAND PRIX Spring magazine.
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