European Wax Center To Go Private in $330 Million Deal
America ı By Rihem Akkouche
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European Wax Center is stepping off the public stage and back into private hands.
The Plano, Texas-based waxing services chain announced Tuesday that it has agreed to be acquired by longtime investor General Atlantic in an all-cash transaction valued at approximately $330 million — a move that will take the beauty brand private after years on the Nasdaq.
A 45% Premium for Public Shareholders
Under the agreement, General Atlantic will purchase all outstanding Class A common shares it does not already own for $5.80 per share in cash, according to the company’s statement. The offer reflects a 45% premium over Monday’s closing price — the last full trading session before the announcement.
Once the deal closes, expected in mid-2026 and subject to customary closing conditions, European Wax Center will delist its shares from the Nasdaq exchange.
In short: the curtain will fall on its public chapter.
From 2004 Startup to 1,000+ Centers
Founded in 2004, European Wax Center has grown from a single concept into a national network of more than 1,000 franchised and company-operated locations across the United States. The company reported $951 million in sales for 2024.
Beyond its core out-of-home waxing services, the company markets a proprietary line of beauty products spanning skin care, body and eyebrow categories, according to its website.
The brand’s expansion over two decades has made it one of the most recognizable names in specialty personal care — a scale that likely factored into the buyout calculus.
General Atlantic Deepens Its Bet
General Atlantic is no stranger to the business. The global investment firm first backed European Wax Center in 2018 and currently beneficially owns about 42% of its outstanding shares.
Established in 1980, General Atlantic has provided capital and strategic guidance to more than 830 companies worldwide. The firm manages roughly $122 billion in assets across growth equity, credit, climate and sustainable infrastructure strategies, according to the statement.
The transaction consolidates its control, converting a substantial minority stake into full ownership.
Warrants, debt swaps or stock considerations are nowhere in sight — this is a straightforward cash deal, a clean break from the volatility of public markets.
Legal Advisers and Deal Teams
Ropes & Gray LLP served as counsel to European Wax Center’s special committee of the board. The team was led by mergers and acquisitions partner Tom Fraser and included litigation and enforcement partner Martin Crisp; finance partner Patricia Lynch; tax partner Adam Greenwood; intellectual property transactions partner Erica Han; executive compensation and employee benefits partner Renata Ferrari; and M&A partner Christopher Comeau.
Paul Weiss Rifkind Wharton & Garrison LLP advised General Atlantic. Its deal team includes partners Matthew Abbott and Cullen Sinclair.
Representatives for both General Atlantic and European Wax Center said they would not provide additional comment beyond the announcement.
As the transaction moves toward closing, European Wax Center’s journey illustrates a familiar corporate arc: rise, public offering, expansion — and then a return to private ownership, where growth strategies can unfold away from the quarterly glare of Wall Street.
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