Toyshare Utah Acquired by Private Investment Group

On June 18, Toyshare Inc. (tyhr.pk) announced the finalization of terms to sell its Draper, Utah operations to a private investment group.
 
 
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July 3, 2008 - PRLog -- DRAPER, Utah - June 18, 2008 – ToyShare Inc. today announced a definitive agreement with a local Private Investment Group to form a joint venture to oversee operations of ToyShare’s Utah based members and facility. The agreement will provide ToyShare’s Utah facility with a substantial influx of operating capital, and will enable it to double its current recreational assets, ensuring that all current and future ToyShare members enjoy a compelling recreational experience.  As a joint venture, the two companies will meet a wider set of customer needs and have a significantly greater opportunity to provide unparalleled service in operations, assets, reservations, and geographic availability.
Under the terms of the agreement, the acquisition will immediately invest in new recreational assets, thus greatly expanding ToyShare’s inventory of wave runners, boats, ATV’s, and RV’s.  The agreement will further include the immediate restoration of current recreational assets to expand inventory, as well to the liquidation of outdated inventory assets.  
In addition to the joint venture agreement, ToyShare Inc. also announced its intent to enter into a servicing partnership with Edge Motor Sports.  This agreement will see Edge Motor Sports performing all operations, servicing, and reservations for ToyShare’s Utah facility.  As of July 1st 2008 ToyShare of Utah will operate in partnership with Club Rec from its new facility at 14301 S. Minuteman Dr. Draper, Utah.  As partners, ToyShare and Club Rec will set a new benchmark for service by providing assets based at local marinas and resorts, offering a more convenient service for its members, as well as expanded inventory throughout the inter-mountain West.

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About Toyshare: Toyshare Inc. is a new and better way to play on all of your favorite recreational toys. Forget about the headaches of of maintenance, insurance, storage, taxes and registration. Toyshare covers them all so you can get out and play. Toyshare even has all of the accessories - helmets, life jackets, waterskis, and wakeboards - that you need.
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