Shell has agreed to sell its Jiffy Lube International business and its largest U.S. franchisee, Premium Velocity Auto, to an affiliate of private equity firm Monomoy Capital Partners in a deal valued at approximately $1.3 billion.

The transaction, announced March 9, will be completed through Shell’s U.S. lubricants subsidiary, Pennzoil-Quaker State Company. It includes a long-term supply agreement that will allow Jiffy Lube locations to continue using Shell lubricants after the sale closes.

Jiffy Lube operates a large network of quick-lube service centers across North America and has been owned by Shell since 2002. Premium Velocity Auto, which is included in the transaction, is the second-largest Jiffy Lube franchisee in the United States, operating approximately 360 locations in 20 states.

Shell said the divestment is part of its strategy to streamline operations and focus on higher-return areas of its energy and lubricants businesses. While the company is selling the service center network, it will retain ownership of key lubricant brands including Pennzoil, Quaker State and Rotella, along with its North American manufacturing, marketing and distribution operations.

For Monomoy Capital Partners, the acquisition represents a significant investment in the automotive aftermarket service sector and positions the firm to expand within the fast-growing “do-it-for-me” maintenance market. 

JobbersWorld Analysis: 

Shell’s decision to sell Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners signals a continued shift in how major oil companies approach the quick-lube and automotive service market. For Shell, the move allows the company to focus on its core lubricants brands and supply business rather than operating retail service centers. At the same time, the long-term lubricant supply agreement means Shell products will likely remain prominent in Jiffy Lube locations, helping protect volume. For the aftermarket, private equity ownership could lead to operational changes, expansion strategies, or consolidation among quick-lube operators as Monomoy looks to grow value in the network. The transaction also reflects the strong investor interest in the “do-it-for-me” maintenance segment, which continues to benefit from an aging vehicle fleet and consumers keeping vehicles longer. For lubricant marketers and distributors, the deal underscores the importance of service outlets as key channels for lubricant sales and highlights the ongoing evolution of ownership in one of the industry’s most visible retail brands.