What is the role of AB Issuer LLC and Subsidiaries in the structure of the Benjamin Franklin Plumbing franchise?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
Authority Brands Inc. and Subsidiaries ("the Company" or "Authority Brands") is the parent company of a number of franchisors and related businesses operating in the United States and internationally. The Company is wholly owned by Villa Aggregator LP (the "Partnership") through Villa TopCo Inc.
On May 14, 2021, the Company completed a whole business securitization (see Note 14). The Company's subsidiaries consist of AB SPE Guarantor LLC and Subsidiaries ("Guarantor") a direct, wholly-owned subsidiary of the Company which directly and wholly owns AB Issuer LLC ("Issuer"), a special purpose Delaware limited liability company which directly and wholly owns AB Assetco LLC and Subsidiaries ("AB Assetco"), a Delaware limited liability company.
AB Assetco wholly owns the following Special Purpose Entity ("SPE") entities:
- 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")
- x Successware SPE LLC ("SuccessWare")
- x Junkluggers Franchising SPE LLC ("Junkluggers Franchisor") formed in 2022
- x Screenmobile Franchising SPE LLC ("Screenmobile Franchisor") formed in 2023
- x Authority Brands Payments SPE LLC ("AB Payments") formed in 2023
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, AB Issuer LLC plays a specific role within the organizational structure of Authority Brands Inc., the parent company of Benjamin Franklin Plumbing. AB Issuer LLC ('Issuer') is a special purpose Delaware limited liability company that is directly and wholly owned by AB SPE Guarantor LLC, which itself is a direct, wholly-owned subsidiary of Authority Brands Inc. AB Issuer LLC directly and wholly owns AB Assetco LLC and Subsidiaries ('AB Assetco'), a Delaware limited liability company.
AB Assetco then wholly owns Benjamin Franklin Franchising SPE LLC ('Benjamin Franklin Franchisor'), which is the entity that actually grants franchises to Benjamin Franklin Plumbing franchisees. This structure indicates that AB Issuer LLC acts as an intermediate holding company within the Authority Brands network, sitting between AB SPE Guarantor LLC and AB Assetco. This type of structure is often used for legal, financial, or risk management purposes within a larger corporate organization.
For a prospective Benjamin Franklin Plumbing franchisee, understanding this structure is important because it clarifies who they are actually entering into a franchise agreement with (Benjamin Franklin Franchising SPE LLC) and how that entity fits within the broader corporate framework of Authority Brands. While the franchisee's day-to-day interactions might primarily be with the Benjamin Franklin Plumbing brand representatives, the ultimate financial and legal responsibility lies with the parent company and its various subsidiaries.