factual

Is Benjamin Franklin Plumbing considered a 'Non Securitization Entity'?

Benjamin_Franklin_Plumbing Franchise · 2025 FDD

Answer from 2025 FDD Document

AB Assetco wholly owns the following Special Purpose Entities ("SPE"):

  • x The Cleaning Authority Franchising SPE LLC ("The Cleaning Authority Franchisor")
  • x Homewatch CareGivers Franchising SPE LLC ("Homewatch Franchisor")
  • x Mosquito Squad Franchising SPE LLC ("Mosquito Squad Franchisor")
  • x ASP Franchising SPE LLC ("ASP Franchisor")
  • x Benjamin Franklin Franchising SPE LLC ("Benjamin Franklin Franchisor")
  • x Mister Sparky Franchising SPE LLC ("Mister Sparky Franchisor")
  • x One Hour Air Conditioning Franchising SPE LLC ("One Hour Air Conditioning Franchisor")
  • x Monster Franchising SPE LLC ("Monster Franchisor")
  • x STOP Franchising SPE LLC ("STOP Franchisor")
  • x DoodyCalls Franchising SPE LLC ("DoodyCalls Franchisor")
  • x BuyMax SPE LLC ("BuyMax SPE")
  • x Successware SPE LLC ("SuccessWare SPE")
  • x Junkluggers Franchising SPE LLC ("Junkluggers Franchising SPE") formed in 2022
  • x Screenmobile Franchising SPE LLC ("Screenmobile Franchisor") formed in 2023
  • x Authority Brands Payments SPE LLC ("AB Payments") formed in 2023

The consolidated financial statements of the Company includes its wholly owned subsidiaries identified above. Guarantor and the Company are collectively referred to as Guarantors. Guarantor, Issuer, AB Assetco and its subsidiaries are collectively referred to as "Securitization Entities."

Source: Item 22 — CONTRACTS (FDD pages 87–88)

What This Means (2025 FDD)

According to the 2025 Benjamin Franklin Plumbing Franchise Disclosure Document, Benjamin Franklin Franchising SPE LLC is considered a 'Securitization Entity'.

The FDD states that 'Guarantor, Issuer, AB Assetco and its subsidiaries are collectively referred to as "Securitization Entities."'

Benjamin Franklin Franchising SPE LLC is listed as one of the Special Purpose Entities (SPE) wholly owned by AB Assetco. Therefore, based on the definition provided in the FDD, Benjamin Franklin Plumbing is included in the group defined as 'Securitization Entities.'

This classification means that Benjamin Franklin Plumbing's financial structure is tied to a larger securitization arrangement, which could impact how the company manages its finances and obligations.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.
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