Around the Industry: April 2026
Jiffy Lube Sold to Private Equity Firm in $1.3 Billion Deal
Monomoy Capital Partners, a New York-based private equity firm, has reached an agreement to acquire Jiffy Lube International from Shell in a deal valued at $1.3 billion.
The sale, which was announced by Monomoy and Shell on March 9, includes the Jiffy Lube brand and a network of franchised stores that are owned and operated by independent franchisees, as well as franchised stores that are owned and operated by Premium Velocity Auto, a Jiffy Lube subsidiary.
Shell is retaining its Pennzoil Quaker State, Rotella, and other Shell lubricants brands, along with marketing, manufacturing and distribution of lubricants in the U.S. and Canada that serve consumer, commercial, and industrial sectors.
The transaction is expected to close in the second half of 2026.
“Few brands have the heritage and scale of Jiffy Lube,” Monomoy Managing Director Lee Mlotek said in a news release. “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.”
Jiffy Lube has been a part of Shell Lubricants in the U.S. for more than 20 years, accounting for about 6.5% volume of Shell's U.S. and Canada total lubricants business.
Founded in 1979 and based in Houston, Jiffy Lube serves about 19 million customers annually through more than 2,000 service centers across North America. Beyond oil changes, Jiffy Lube shops provide other automotive services that include maintenance of brakes, batteries, and tires through its multicare model.
"By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell's lubricant's portfolio in the US and reinvest in opportunities that generate higher returns," Machteld de Haan, president, downstream, renewables and energy solutions for Shell, said in a statement.
Specializing in the middle market, Monomoy Capital Partners is a private investment firm with more than $5.3 billion in assets under management across a family of investment funds. Monomoy focuses on investing in manufacturing, distribution, and services companies across industrial and consumer product sectors in North America.
“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,” Monomoy Founder and Co-CEO Dan Collin said in a statement. “Jiffy Lube enters this next chapter well capitalized and focused on future growth with its franchise partners.”
Class Action Lawsuit Alleges Securities Fraud by Driven Brands
Securities law firm Bleichmar Fonti & Auld LLP has filed a class action lawsuit against Driven Brands Holdings Inc. and certain senior executives for alleged securities fraud claims, according to the overview from BFA.
The company's stock dropped 39.8% after it disclosed widespread accounting errors and internal control failures from fiscal years 2023 to 2025 in its Form 8-K filing to the Securities and Exchange Commision on Feb. 25. BFA says the errors included lease accounting issues, unreconciled cash balances, improperly classified expenses, and improperly recognized revenue.
Driven Brands has initiated an ongoing review with its independent auditors, PricewaterhouseCoopers LLP, which it acknowledges may uncover further errors. The company emphasizes that the errors and weaknesses impact the accuracy of its financial disclosures and internal controls, and it is taking remedial actions.
Driven Brands filed an additional Form 8-K March 11 amending its debt indenture, which extends deadlines for financial reporting following a restatement of its financial statements.
According to Yahoo Finance, stock dropped from a close of $16.61 on February 24 to open $9.99 on February 25.
The company also delayed the filing of its 2025 Form 10-K, which in its March 11 filing it said it expects to fulfill by April 26. BFA Law says it’s investigating for possible violations of the federal securities laws following the stock drop and the damage it caused investors.
The case is pending in the U.S. District Court for the Southern District of New York. It is captioned Clark v. Driven Brands Holdings Inc., et al., 1:26-cv-01902. The Lead Plaintiff deadline is May 8.
Anyone who invested in Driven Brands can obtain additional information on the BFA Law website. Multiple law firms are investigating the allegations.
Motor Age Training Becomes an Official ASE Test Prep Partner
EndeavorB2B has announced that Motor Age Training has become an Officially Licensed ASE Test Prep Partner. This designation reinforces Motor Age Training's leadership in technician education and its commitment to aligning with the gold standard in automotive service certification.
“We couldn’t be happier to serve as the industry’s initial Officially Licensed Test Prep Partner,” said Michael Willins, director of business development for Motor Age Training. “This partnership gives us a direct connection to the ASE style guide review process, to help us even better align our library of study guides and practice tests with the content presented on the certification exams.”
ASE's newly launched Test Prep Partner initiative helps automotive students and technicians identify high-quality test preparation materials that align with ASE certification exams. Approved partners are formally reviewed to ensure their content supports preparation for ASE exams.
Matt Shepanek, ASE vice president, Credential Testing Programs and president, ASE Training Managers Council (ATMC), said, “We are excited to see Motor Age Training align themselves with both the standards set forth by the ATMC for accredited training providers as well as making sure their content closely follows the ASE certification task lists, which will bring more clarity for service professionals looking for quality test prep products.”
This partnership further strengthens Motor Age Training's mission to support technicians and automotive students nationwide.
Dave Johnson, president and CEO of ASE, said the Officially Licensed ASE Test Prep Partner initiative provides technicians and students with confidence that the materials they are using to prepare have been reviewed to align with current ASE task lists and standards. “This program reinforces our commitment to supporting the professional development of service professionals at every stage of their careers,” said Johnson.
Motor Age Training has been committed to supporting automotive technicians for more than 40 years.
“Becoming ASE’s premiere Officially Licensed Test Prep Partner underscores that dedication and commitment for the next 40 years and beyond,” said Chris Messer, executive vice president of EndeavorB2B’s Transportation Group. “ASE sets the benchmark for technician excellence, and this partnership strengthens our shared mission to help professionals succeed.”
ASE Launches its ASE Test Prep Partner Initiative
The National Institute for Automotive Service Excellence has announced the launch of its officially licensed ASE Test Prep Partner initiative. This initiative is designed to help identify high-quality test preparation materials that align with ASE certification exams.
“ASE certification tests are created by automotive industry experts to reflect real-world knowledge and skills,” Dave Johnson, president and CEO of ASE, said in a statement. “The officially licensed ASE Test Prep Partner initiative provides technicians and students with confidence that the materials they are using to prepare have been reviewed to align with current ASE task lists and standards. This program reinforces our commitment to supporting the professional development of service professionals at every stage of their careers.”
To ensure test prep content meets ASE standards and task lists, the ASE Test Prep Partner initiative establishes a formal collaboration between ASE and participating partners.
Through a content and ASE style guide review process, ASE will work with approved partners to help verify their materials accurately support candidates preparing for ASE certification tests.
To qualify as an officially licensed ASE Test Prep Partner, organizations must meet several criteria:
- Maintain a current test prep library covering at least one entire ASE Master test series. To be considered current, materials must focus on the ASE task lists utilized for active certification tests.
- Be current or in the process of becoming an ASE Accredited Training Provider through the ASE Training Managers Council (ATMC).
- Be a current, active member of the ATMC.
- Serve as an ASE Education Foundation Partner and/or sponsor of the ASE Instructor Training Conference.
- Recognize ASE Certified professionals through support of the annual ASE Service Professional Awards program.
Approved partners will be authorized to use the officially licensed ASE Test Prep Partner logo and will be listed on the ASE website.
Organizations that offer ASE test preparation materials and are interested in applying for the program can email [email protected] for information on fees and additional details.
Jiffy Lube Welcomes Experienced Quick Lube Operator in Arkansas as Franchisee
Jiffy Lube has announced that a new franchisee with over 30 years of quick lube industry experience in Arkansas has joined the Jiffy Lube network.
According to a recent press release, Rick Murphy, owner of Auto Center Enterprises, purchased seven Jiffy Lube locations in metro Little Rock, Arkansas. Auto Center Enterprises has been operating the service centers since late October 2025.
A fourth-generation family farmer who grew up in Texarkana, Murphy went on to have a successful career as one of the largest insurance brokers in Arkansas. After selling that business, he started his career in automotive services in 1992 when he became a partner and general manager in a friend's full-service car wash business. Since then, he has opened, operated, and then sold more than a dozen quick lube centers across the state, including the independent Star Lube brand.
FullSpeed Automotive Launching Guest Experience Specialist Course for Employees
FullSpeed Automotive is revamping its 2026 training program with the launch of the Guest Experience Specialist course, as announced in a recent press release.
The GES course features a curriculum designed to teach teams how to interact with customers effectively. Training covers everything from presenting performance guarantees and bounceback offers to conducting one-minute exit interviews and reinforcing customer retention strategies.
The program is open to franchise owners, managers, and technicians, with courses designed to be accessible across multiple markets. The GES program was set to launch in Denver on March 2, beginning with select franchisees, followed by expansion into key growth markets, including Texas and California, as the rollout continues nationwide across flagship brands like Grease Monkey and SpeeDee Oil Change & Auto Service.
Following completion of the training, success will be measured through KPIs such as ticket averages, review scores, customer retention, and service times. FullSpeed has reported measurable improvements in both customer satisfaction and employee retention from early indicators in its pilot programs.
New Survey Shows Discrepancy in What Drivers Expect to Pay for Vehicle Maintenance
Synchrony released a new Cost of Car Ownership survey, showing a steep difference between what drivers think they’re paying and what they’re actually paying to maintain their vehicles.
As shared in a press release, the survey showed that drivers are paying nearly 167% more per year than expected to keep their current vehicles on the road, representing a $4,565 discrepancy. Even vehicle owners who have held onto older models—which is a growing number—have faced rising costs.
Excluding loan and lease payments, car owners estimated spending $2,738 annually on their vehicle. However, the survey showed the actual yearly total is $7,303. These figures are even higher for younger drivers, with millennials and Gen Z spending $10,101 and $9,984 per year, respectively.
Increasing vehicle prices and maintenance costs may also be contributing to a decline in multicar homes. According to Synchrony, 65% of respondents reported being responsible for only one vehicle in their household, while just 25% manage two cars. These numbers fall below the 2023 U.S. Census, which showed 37% of households had two vehicles and 22% of households owned three cars or more.
When looking at age demographics, Gen Z and Millennials spend the most across all major categories, including car maintenance, where they spend $976 and $768 each year, respectively, compared to the $622 average. The same holds for service and repairs, including transmission replacement and engine work, where Gen Z and Millennials are spending $983 and $931 each, well above the $659 average.