• The Challenges

  • The Challenges

Selection of Operating Partner
Multiple existing Jiffy Lube franchisees approached PGP/Wynnchurch to partner as its operating partner

Highly Competitive Process
Given the strength of the Jiffy Lube brand and the perceived substantial turnaround opportunity, many private equity firms participated in the auction process

Shell Motor Oil’s Consent Required as Franchisor
From the outset of the sale process, Shell was determined to reduce the concentration of private equity ownership among its franchisees, of which Heartland constituted roughly 25% of the entire Jiffy Lube network

  • The Solutions

  • The Solutions

Aligned Operating and Capital Strategic Partnership
PGP played a critical intermediary role in the diligence of prospective operating partners and advising Wynnchurch throughout the process to ensure the group’s strategic alignment met the needs of both the seller and Shell

Most Attractive Capital Partner
Worked with an operating partner to provide a detailed roadmap for the turnaround that gave Wynnchurch confidence and advantaged their bid

Compelling Proposition
PGP engaged with Shell and convinced vital decision makers that the Wynnchurch-led group provided a unique value-prop sufficient to overcome Shell’s initial reluctance to approve Heartland’s sale to another private equity group

The Results

Value Creation Through Assembly of Value-Added Partnership

▪ Value Added Partners – The introduction by PGP of Wynnchurch and Mid-Atlantic Lubes as capital and operating partners, respectively, along with PGP’s direct participation as co-investor, was the only buyer group approved by Shell

▪ Merchant Banking Capabilities – The transaction underscores PGP’s merchant banking capabilities, bringing together Wynnchurch and Mid-Atlantic Lubes, Inc. to close the transaction successfully.


Mid-Atlantic Lubes, Inc.

have acquired

PGP acted as a financial advisor and co – investor to WynnChurch Capital