Shell plc has agreed to sell its Jiffy Lube and Premium Velocity automotive‑service subsidiaries to an affiliate of private‑equity firm Monomoy Capital Partners for a total of $1.3 billion. The transaction will transfer the Jiffy Lube brand and its network of franchised stores, as well as the franchised stores operated by Premium Velocity Auto, to Monomoy while Shell retains its other lubricants brands, including Pennzoil, Quaker State, and Rotella, and its broader U.S. and Canada lubricants business.
The divestiture removes an asset that accounts for roughly 6.5 % of Shell’s U.S. and Canada lubricants volume, allowing the company to concentrate on its core upstream and integrated gas operations. Shell’s strategy, articulated by CEO Wael Sawan, is to shed non‑core assets and invest in higher‑margin opportunities such as oil, gas, and biofuels, while divesting legacy businesses that no longer align with its long‑term focus.
Monomoy Capital Partners, known for acquiring and improving corporate carve‑outs and family‑owned businesses, will apply its operational expertise to grow Jiffy Lube and Premium Velocity. The firm’s track record of value creation in service‑and‑distribution businesses suggests it will seek to enhance scale, streamline operations, and unlock additional profitability in the automotive‑service market.
Machteld de Haan, Shell’s President of Downstream, Renewables and Energy Solutions, said the sale “capitalizes on a strong market opportunity, allowing us to monetize an asset that is not central to Shell’s lubricants portfolio in the U.S. and reinvest in opportunities that generate higher returns.” The deal is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approval.
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