Shell has agreed to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion, marking a strategic divestment within the company’s U.S. lubricants portfolio.
The agreement was executed through Pennzoil Quaker State Company, also known as SOPUS Products, a wholly owned subsidiary of Shell USA that comprises the company’s lubricants business in the United States. Under the terms of the deal, Monomoy will acquire Jiffy Lube through its Fund V investment vehicle.
The transaction includes the Jiffy Lube brand and its extensive network of franchised service centers. These locations are operated both by independent franchisees and by Premium Velocity Auto, which manages company-owned stores within the system.
Jiffy Lube International oversees more than 2,000 franchised, company-owned, and licensed service centers across the United States and Canada. The business provides lubrication services, oil changes, and light automotive repairs for cars and light trucks. Premium Velocity Auto, which will also be acquired by Monomoy, operates more than 360 locations across 20 states and is one of the largest franchisees within the Jiffy Lube system.
Shell has owned Jiffy Lube for more than two decades through its lubricants division, and the chain accounts for approximately 6.5% of Shell’s lubricants volume in the United States and Canada.
As part of the transaction, Pennzoil Quaker State Company has entered into a long-term lubricants supply agreement with Monomoy. The arrangement will allow Shell to continue supplying lubricants to the Jiffy Lube network following the sale.
Shell will retain its core lubricant brands, including Pennzoil, Quaker State, Rotella, and other Shell lubricant products. The company will also continue its marketing, manufacturing, and distribution of lubricants across the United States and Canada, serving consumer, commercial, and industrial markets.
Monomoy said the acquisition aligns with its strategy of investing in middle-market businesses with strong brands and operational potential. The private investment firm plans to support the continued expansion of the Jiffy Lube platform while enhancing service offerings and operational performance.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
KEY QUOTES
“By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell’s lubricant’s portfolio in the US and reinvest in opportunities that generate higher returns.”
Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell plc
“Jiffy Lube is an iconic brand with a differentiated position in the quick lube and automotive maintenance sector. We look forward to partnering with the management team and franchise network to support the company’s continued growth and operational excellence.”
“We believe Jiffy Lube’s strong franchise network, trusted brand and essential services platform create significant opportunities for continued investment and expansion across the automotive services market.”
Justin Hillenbrand, Partner at Monomoy Capital Partners
