European Wax Center Announces Completion of Take-Private by General Atlantic

European Wax Center (NASDAQ:EWCZ) completed a take-private by General Atlantic on May 8, 2026, in an all-cash deal with an implied enterprise value of approximately $640 million.

Rhea-AI Summary

European Wax Center (NASDAQ:EWCZ) completed a take-private by General Atlantic on May 8, 2026, in an all-cash deal with an implied enterprise value of approximately $640 million. Stockholders (other than General Atlantic affiliates) will receive $5.80 per share in cash. Class A common stock has ceased trading on Nasdaq. The transaction gives General Atlantic 100% ownership of outstanding shares it did not already own.

Advisors included Moelis & Company and Ropes & Gray for the special committee; BofA Securities, Guggenheim, and Paul, Weiss for General Atlantic.

Positive

• All-cash deal valuing company at approximately $640 million
• Stockholders to receive $5.80 per share in cash
• General Atlantic now owns 100% of outstanding shares

Negative

• Class A common stock has ceased trading on Nasdaq
• Public shareholders lose ongoing market liquidity for shares

Key Figures

Cash consideration per share: $5.80 Annual services: 23 million States served: 44 states +5 more

Cash consideration per share

$5.80

Paid to each European Wax Center Class A share at closing

Annual services

23 million

Waxing services performed per year across the network

States served

44 states

U.S. states with European Wax Center locations

Network sales

$947 million

Sales generated by the network in fiscal 2025

Companies supported

885 companies

Number of companies General Atlantic has supported historically

Assets under management

$126 billion

General Atlantic AUM as of December 31, 2025

Professionals

900

Number of professionals at General Atlantic

Countries

20

Countries in which General Atlantic operates

Historical Context

5 past events · Latest: Apr 02

5 events

1. Apr 02

   Product award

   24h Move

   +0.3%

   Dry brush product wins NewBeauty award, reinforcing brand recognition.

2. Apr 01

   Product launch

   24h Move

   +0.2%

   Launch of SPF 50 spray tailored for waxed skin and retail channels.

3. Mar 31

   Deal fairness query

   24h Move

   +0.2%

   Headline questioning whether shareholders are obtaining fair deals.

4. Mar 27

   Deal fairness query

   24h Move

   -0.1%

   Further headline on fairness of transactions for shareholders.

5. Mar 19

   Deal fairness query

   24h Move

   +0.2%

   Another mention in reports on potential fairness of deals.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

take-private, all-cash transaction, enterprise value, class a common stock, +2 more

6 terms

take-private financial

"today announced the successful completion of its take-private by General Atlantic"

A take-private is when a buyer—often a private investor group or company—buys all publicly traded shares of a company and removes it from public stock markets, similar to purchasing a public storefront and converting it into a privately owned business. It matters to investors because public shareholders typically receive a cash or stock offer and must decide whether to accept that buyout price; afterward the company’s shares stop trading publicly, reducing liquidity and changing oversight and risk profiles as the business operates without public-market reporting requirements.

all-cash transaction financial

"in an all-cash transaction with an implied enterprise value"

An all-cash transaction is a deal where the full purchase price is paid immediately in cash or cash equivalents, rather than through financing or installment payments. For investors, this type of transaction often indicates a quick, straightforward sale and can signal confidence from the buyer, potentially affecting the value and perception of the involved assets.

enterprise value financial

"in an all-cash transaction with an implied enterprise value of"

Enterprise value is the total worth of a company, reflecting what it would cost to buy the entire business. It includes the company's market value plus any debts, minus its cash holdings, offering a comprehensive picture of its true value. Investors use it to compare companies regardless of their capital structures, helping them assess how much they would need to pay to acquire the business.

View in glossary

class a common stock financial

"for each share of European Wax Center class A common stock they owned"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

nasdaq stock market regulatory

"will no longer be listed on the Nasdaq Stock Market"

The Nasdaq Stock Market is a place where many companies' shares are bought and sold, functioning like a marketplace for investing in businesses. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping people grow their wealth or fund business growth. Known for hosting many technology and innovative companies, it is a key indicator of the health of those sectors.

assets under management financial

"General Atlantic manages approximately $126 billion in assets under management"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Stockholders to Receive $5.80 Per Share in Cash

PLANO, Texas, May 08, 2026 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (the “Company” or “European Wax Center”), a leading franchisor and operator of out-of-home waxing services in the United States, today announced the successful completion of its take-private by General Atlantic, a leading global investor, in an all-cash transaction with an implied enterprise value of approximately $640 million.
        
With the completion of the transaction, General Atlantic acquired 100% of the outstanding shares in European Wax Center it did not already own. European Wax Center stockholders (other than affiliates of General Atlantic) are entitled to receive $5.80 in cash for each share of European Wax Center class A common stock they owned as of the closing date. European Wax Center’s class A common stock has ceased trading and will no longer be listed on the Nasdaq Stock Market.

Advisors
Moelis & Company LLC is acting as exclusive financial advisor and Ropes & Gray LLP is acting as legal counsel to the Special Committee of the European Wax Center Board of Directors. Edelman Smithfield is acting as strategic communications advisor to European Wax Center.

BofA Securities and Guggenheim Securities are acting as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to General Atlantic.

About European Wax Center, Inc.
European Wax Center, Inc. is the leading franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform approximately 23 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which includes more than 1,000 centers in 44 states, generated sales of $947 million in fiscal 2025. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.

About General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Energy Transition, and Sustainable Infrastructure strategies. General Atlantic manages approximately $126 billion in assets under management, inclusive of all strategies, as of December 31, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

Contacts

Edelman Smithfield for European Wax Center
EWCIR@edelman.com

General Atlantic
Emily Japlon
media@generalatlantic.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did the May 8, 2026 take-private mean for European Wax Center (EWCZ) shareholders?

Shareholders (excluding General Atlantic affiliates) received $5.80 per share in cash. According to the company, the deal closed May 8, 2026, and shares stopped trading on Nasdaq after closing.

What was the transaction value when General Atlantic took European Wax Center (EWCZ) private?

The transaction carried an implied enterprise value of approximately $640 million. According to the company, the deal was an all-cash acquisition completed May 8, 2026.

Will European Wax Center (EWCZ) shares trade on Nasdaq after the deal closed?

No, European Wax Center class A common stock ceased trading on Nasdaq at closing. According to the company, the listing ended when the take-private transaction completed.

How much cash will I receive per share for EWCZ in the General Atlantic transaction?

Eligible stockholders will receive $5.80 in cash per class A share. According to the company, this applies to shareholders other than General Atlantic affiliates as of closing.

Who advised European Wax Center and General Atlantic on the May 2026 transaction?

Moelis & Company and Ropes & Gray advised the company’s special committee; BofA Securities, Guggenheim, and Paul, Weiss advised General Atlantic. According to the company, Edelman Smithfield served as strategic communications advisor.

How large is European Wax Center’s business and recent sales prior to the take-private?

The company operated over 1,000 centers in 44 states and reported $947 million in sales for fiscal 2025. According to the company, locations performed about 23 million services per year.