Jiffy Lube, the Houston-based oil-change staple, is getting a new owner with a New York private equity address. Shell said Monday it has agreed to sell Jiffy Lube International Inc. and its franchised network to Monomoy Capital Partners for roughly $1.3 billion, a move that hands the brand and its sprawling service-center footprint to a new financial backer while keeping Shell motor oil flowing through the bays.
Deal Terms And What’s Included
According to a press release from PR Newswire, Pennzoil Quaker State Company, the Shell USA subsidiary that houses Shell's U.S. lubricants business, has entered a definitive agreement to sell Jiffy Lube International and Premium Velocity Auto to an affiliate of Monomoy for $1.3 billion. Shell will keep its Pennzoil, Quaker State, Rotella and other lubricant brands, while also locking in a long-term supply agreement with Monomoy that is intended to keep product availability steady during and after the ownership change.
Monomoy’s Playbook
Monomoy said in a statement distributed on Business Wire that it will acquire Jiffy Lube through its Fund V and described the deal as a strategic carve-out with strong reach to everyday consumers. The firm highlighted that Jiffy Lube serves roughly 19 million customers each year across more than 2,000 service centers in North America and said it plans to lean on operational programs in technology, training and local support to help franchisees grow.
Scale And The Franchise Footprint
Shell's announcement notes that the sale covers the Jiffy Lube registered trademark and the franchisor business itself. Monomoy is also set to acquire Premium Velocity Auto, identified as the second-largest Jiffy Lube franchisee, which runs more than 360 locations in about 20 states. The transaction includes both franchised stores owned by independent operators and those owned and operated by Premium Velocity Auto, according to Shell.
What This Could Mean For Franchisees And Customers
Monomoy executives presented the acquisition as a platform investment and said the firm brings operational expertise to branded retail and automotive aftermarket businesses, according to the Business Wire statement. The same announcement says the transaction is expected to close in the second half of 2026 and lists RBC Capital Markets and Kirkland & Ellis among the financial and legal advisors on the deal.
Next Steps
With a long-term supply agreement in place and the franchisor business slated to change hands, the near-term to-do list includes lender approvals, regulatory reviews and outreach to franchise owners ahead of closing. For customers rolling up for their next oil change, any visible differences are likely to come from gradual investments Monomoy makes in store operations and digital tools rather than sudden product swaps, since Shell will continue to manufacture and market its lubricant brands during the transition.
