Private equity firm Monomoy Capital Partners has signed a definitive agreement to acquire Jiffy Lube from Shell plc in a deal valued at approximately $1.3 billion, marking one of the most significant franchise transactions in the automotive services sector this year.
The transaction includes Jiffy Lube International along with Premium Velocity Auto, one of the largest franchise operators in the system. The combined platform represents a vast network of more than 2,000 franchised and company-operated service centres across North America, alongside an additional 360+ locations operated by Premium Velocity Auto.
Founded in 1979 and headquartered in Houston, Jiffy Lube is widely regarded as a pioneer of the quick oil change category, serving millions of customers annually with services ranging from oil changes to brake, battery and tyre maintenance. The brand has built a strong franchise-led model that has remained central to its growth across the US and Canada.
For Shell, the divestment aligns with its broader strategy to streamline operations and focus on higher-return core businesses. The company will retain a long-term lubricants supply agreement as part of the deal, ensuring continued presence in the automotive aftercare ecosystem.
Monomoy plans to operate Jiffy Lube as a standalone platform following the acquisition, leveraging its experience in industrial and consumer businesses to drive operational improvements and expansion. The firm, which manages over $5 billion in assets, has indicated a strong focus on supporting franchisees and enhancing customer experience across the network.
The deal underscores growing private equity interest in franchise-led automotive service brands, which offer resilient demand and recurring revenue streams. Industry observers note that Jiffy Lube’s scale, brand recognition, and asset-light franchise structure make it an attractive platform for further consolidation and growth in the fragmented auto aftermarket sector.
The transaction is expected to close in the second half of 2026.
