European Wax Center(Nasdaq: EWCZ)—a Plano-based franchisor and operator of more than 1,000 waxing services locations across the U.S.—will be dropping that ticker symbol according to an announcement released today. NYC-based global investor General Atlantic, an existing investor in the company since 2018, is taking the company private in an all-cash deal valued at around $330 million.

With locations in 44 states, European Wax Center performs more than 23 million services per year “administered by highly trained wax specialists within the privacy of clean, individual waxing suites,” the company said.  The company said its innovative Comfort Wax is formulated with the highest quality ingredients to make waxing “a more efficient and relatively painless experience,” along with proprietary products that help enhance and extend waxing results.

The company was founded in 2004.

Details of the deal

General Atlantic initially invested in European Wax Center in 2018, and already owns around 42% of the outstanding shares of the company’s common stock. Under the deal announced today, General Atlantic will acquire 100% of the outstanding shares of class A common stock that it doesn’t already own.

European Wax Center stockholders (other than affiliates of General Atlantic) will receive $5.80 per share in cash for each share of European Wax Center class A common stock they own. The purchase price represents a 45% premium to European Wax Center’s closing stock price on February 9, 2026, the last full trading day prior to the transaction announcement, and a 51% premium to the company’s 90-day volume-weighted average share price for the period ended February 9, 2026, the company said.

Deal got unanimous board approval

The deal was unanimously approved by a special committee of the European Wax Center board of directors, composed entirely of independent directors, the company said. Acting on the recommendation of the special committee, the board approved the transaction.

The deal is slated to close in mid-2026, pending approval by a majority of the votes cast by holders of shares of the company’s common stock that aren’t affiliated with General Atlantic, and the satisfaction of regulatory approvals.

Once the deal cloess, European Wax Center’s class A common stock will no longer be publicly listed, and European Wax Center will become a privately held company.

Moelis & Company 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. 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.