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.
