Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced recently it has entered into a definitive agreement to acquire 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. The transaction is expected to close by the second half of 2026, subject to customary closing conditions and regulatory approval.

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.”

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.

“For over twenty 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.”