Private equity firm Monomoy Capital Partners has acquired Jiffy Lube International from a Shell USA subsidiary in a $1.3 billion transaction. The Houston-based quick lube franchise operates more than 2,000 service centers across North America, making this one of the largest automotive service acquisitions in recent memory.

Founded in 1979, Jiffy Lube serves approximately 19 million customers annually through its franchise model. Shell's decision to divest the business signals a strategic shift away from automotive retail operations, allowing the energy giant to focus on its core upstream and downstream activities.

For Monomoy, the acquisition provides immediate scale in the automotive aftermarket sector, which has shown resilience amid economic volatility. The franchise model offers predictable cash flows and recurring revenue streams that private equity firms typically favor for portfolio companies.

This deal reflects broader trends in the private equity market, where firms are targeting established consumer brands with strong unit economics. Jiffy Lube's extensive footprint and customer base position it well for operational improvements and potential add-on acquisitions under Monomoy's ownership.