Monomoy Signs Definitive Agreement to Acquire Jiffy Lube From Shell

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced it has entered into a definitive agreement to acquire the leading quick lube and automotive service franchisor in North America, Jiffy Lube International Inc., from Pennzoil Quaker State Company DBA SOPUS Products, a wholly owned subsidiary of Shell USA Inc. An affiliate of Monomoy will acquire Jiffy Lube through its Fund V for approximately $1.3 billion.

Founded in 1979 and headquartered in Houston, Texas, Jiffy Lube pioneered the fast oil change industry and now serves approximately 19 million customers annually through more than 2,000 service centers across North America. Building on its core oil change offering, Jiffy Lube provides a comprehensive range of automotive services, including maintenance of brakes, batteries, tires and more.

“Few brands have the heritage and scale of Jiffy Lube,” commented Monomoy managing director Lee Mlotek. “As the original pioneer of the fast oil change, Jiffy Lube reshaped the industry and remains the market leader today. We are incredibly excited to partner with our franchisees to enhance the customer experience and value proposition that has made Jiffy Lube a trusted name for generations.”

Monomoy Brings Operational Expertise & Capital to Jiffy Lube

The partnership combines Jiffy Lube’s leadership position in the automotive service industry with Monomoy’s history of providing operational support to branded retailers and automotive aftermarket businesses, company officials stated in a press release.

“For over 20 years, global corporations have trusted Monomoy to execute complex corporate carve-out transactions,” said Monomoy founder and co-chief executive officer Dan Collin. “We are thankful that the Shell team has entrusted Monomoy to provide the operational experience and strategic capital to position Jiffy Lube as a stand-alone entity. Jiffy Lube enters this next chapter well capitalized and focused on future growth with its franchise partners.”

The transaction is expected to close by the second half of 2026, subject to customary closing conditions and regulatory approval.

RBC Capital Markets served as exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Monomoy. Golub Capital will act as sole administrative agent and joint lead arranger on the financing. Ares Credit funds and MidCap Financial will also act as joint lead arrangers on the financing.