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Jiffy Lube has been sold — again. The chain that established the concept of quick oil changes began with just one location, started by Edwin H. Washburn in the early years of the 1970s, then grew by selling franchises. W. James Hindman then purchased those franchises in 1979, creating Jiffy Lube International within the state of Utah. Jiffy Lube would go public in 1987, growing to more than a thousand franchises. Then, in 1989, Pennzoil, a popular synthetic oil brand, acquired 80% of Jiffy Lube, purchasing the remaining shares in 1991. Next came the Pennzoil-Quaker State merger in 1998, followed by Shell’s purchase of both companies in 2002, giving ownership of Jiffy Lube to Shell, which owns all 6 of these popular motor oil brands. That brings us to today’s news, in which Jiffy Lube International has been sold to a new buyer.
That buyer is Monomoy Capital Partners, which purchased Jiffy Lube International and subsidiary Premium Velocity Auto (PVA), along with its registered trademark. The price paid by Monomoy is $1.3 billion. PVA, with 360+ Jiffy Lube locations in 20 states, is the number two Jiffy Lube franchise. The sale includes over 2,000 Jiffy Lube stores, some of which are company-owned, while others are franchisee-operated.
If you thought that Shell was now totally out of the oil-change business, think again. Part of the deal states that, “…Pennzoil Quaker State Company retains a long-term lubricants supply agreement with Monomoy.” This means that Shell, who owns Pennzoil Quaker State, will provide the lubricants used at Jiffy Lube. Good deal for Shell.
What else should you know about Jiffy Lube?
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Jiffy Lube International’s 2,000+ locations and claimed 19 million customers are spread across the U.S. and Canada. Since its purchase by Shell, the company has evolved from a quick oil change focus to what it calls a “multicare” format, combining its original service with add-on offerings. These include items like maintaining and replacing batteries, rotating and replacing tires, and servicing and replacing brakes, engine maintenance, windshield and headlight repair, replacement of air and fuel filters, and suspension services including alignment and strut or shock replacement. Jiffy Lube appears to have pivoted to becoming a provider of all automotive servicing needs. This strategy should generate larger invoices and greater profits for Jiffy Lube, which missed being the oil change service that gets JD Power’s highest customer satisfaction score in 2026.
As far as the reason given by Shell for unloading Jiffy Lube International onto a private equity firm, its press release states that, “The divestment supports ongoing portfolio high-grading by monetizing a non-core Lubricants asset.” It appears that Shell desires to focus solely on the production and distribution of oil and gas products, and is leaving the auto servicing arena to do just that. Shell will continue to own and operate its network of around 12,000 Shell gas stations, which it calls “…the largest branded fuel network in the United States…” And Jiffy Lube is now in the hands of the type of firm that will be looking for high levels of profit for its $1.3 billion investment.