Is Precision Door Service a subsidiary of Neighborly Assetco LLC?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
Assetco's subsidiaries are comprised of a number of franchisors and related supporting businesses operating in the US and internationally and include the following businesses: Aire Serv SPV LLC, Mr. Electric SPV LLC, The Grounds Guys SPV LLC, Rainbow International SPV LLC, Glass Doctor SPV LLC, Mr. Appliance SPV LLC, Mr. Rooter SPV LLC, Molly Maid SPV LLC, Mr. Handyman SPV LLC, Five Star Painting SPV LLC, Window Genie SPV LLC, Real Property Management SPV LLC, Mosquito Joe SPV LLC, HouseMaster SPV LLC, Dryer Vent Wizard SPV LLC, ShelfGenie SPV LLC, Precision Door Service SPV LLC, Junk King SPV LLC, and Lawn Pride SPV LLC (each an "SPV Franchisor" and together the "SPV Franchisors") and ProTradeNet SPV LLC, Neighborly Service Solutions SPV LLC, Back Office SPV LLC, G-O Manufacturing SPV LLC, Zorware SPV LLC, NBLY Co Ops CO SPV LLC, NBLY Co Ops WA SPV LLC, NBLY Co Ops AZ SPV LLC, NBLY Co Ops IN SPV LLC, Trench Right SPV LLC, Trench Right WA SPV LLC, Dig Boss SPV LLC, NBLY Logistics SPV LLC, and Pimlico SPV Limited (each a "Non-Franchisor SPV Entity" and together the "Non-Franchisor SPV Entities"), each of which is a direct, wholly owned subsidiary of Assetco.
Assetco holds all the equity interests in the SPV Franchisors and the Non-Franchisor SPV Entities, certain intellectual property, certain license agreements and certain vendor agreements. Each SPV Franchisor holds the tradenames and the franchise agreements related to such brand and any product supply agreements or vendor agreements related to such brand. The Non-Franchisor SPV Entities hold certain tradenames, certain product supply agreements, certain vendor agreements and the office service agreements.
Source: Item 21 — Financial Statements (FDD page 91)
What This Means (2025 FDD)
According to the 2025 FDD, Precision Door Service SPV LLC is a direct, wholly-owned subsidiary of Neighborly Assetco LLC. Specifically, the FDD lists Precision Door Service SPV LLC among a group of franchisors called "SPV Franchisors," all of which are direct subsidiaries of Assetco. Neighborly Assetco LLC holds all equity interests in these SPV Franchisors.
For a prospective Precision Door Service franchisee, this means that the franchise agreement is with Precision Door Service SPV LLC, which is under the umbrella of Neighborly Assetco LLC. This structure is common in franchising, where a parent company owns various subsidiary brands.
This structure also means that Neighborly Assetco LLC ultimately controls the franchise system and owns the trademarks and franchise agreements related to the Precision Door Service brand. It is important for franchisees to understand the relationship between the franchisor and its parent company, as the parent company's financial stability and strategic decisions can impact the franchise system.