Transaction separates Jiffy Lube from Shell’s SOPUS Products division
Jiffy Lube operates a network of more than 2,000 franchised service centers across the United States and Canada that provide services to more than 19 million vehicle owners each year.
March 12, 2026|John McNulty
Monomoy Capital Partners has agreed to acquire Jiffy Lube International from Pennzoil Quaker State Company (DBA SOPUS Products), a subsidiary of Shell USA, in a transaction valued at $1.3 billion.
Jiffy Lube was founded in 1979 by W. James Hindman and pioneered the fast oil change category. The company was acquired by Shell in 2002 and introduced its multicare service format during the 2010s, adding tire rotations, brake repair, and battery replacement to the original oil-change offering. Today, Jiffy Lube operates a network of more than 2,000 franchised service centers across the United States and Canada that provide services to more than 19 million vehicle owners each year. The company is led by CEO Greg Johnson and is headquartered in Houston.
Jiffy Lube’s vehicle maintenance services include engine oil replacement and inspection of key vehicle systems; brake pad replacement and brake system inspections; and battery replacement and testing services designed to evaluate vehicle starting systems and install new batteries when required.
Customers of Jiffy Lube include individual vehicle owners seeking routine maintenance as well as commercial fleet operators that require scheduled servicing for cars, pickup trucks, and light commercial vehicles.
Lee Mlotek
“Few brands have the heritage and scale of Jiffy Lube,” said Lee Mlotek, a managing director at Monomoy. “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 makes control investments of debt and equity in companies with $20 million to $100 million of EBITDA. Sectors of interest include manufacturing, distribution, and business services across North America. The firm was founded in 2005 and is based in New York City.
Monomoy’s investment in Jiffy Lube will be made with equity from the firm’s fifth fund, which closed in July 2024 with $2.25 billion of capital.
Dan Collin
“For over twenty years, global corporations have trusted Monomoy to execute complex corporate carve-out transactions,” said Dan Collin, founder and co-chief executive officer of Monomoy. “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.”
RBC Capital Markets was the financial advisor to Monomoy. Golub Capital is the sole administrative agent and joint lead arranger on the debt financing, with MidCap Financial and Ares Credit and also serving as joint lead arrangers.
The acquisition of Jiffy Lube is expected to close in the second half of 2026.
