European Wax Center Acquisition, Valuation & Financials

European Wax Center was acquired by General Atlantic for $640M in February 2026, a 3.2x multiple on $200M of revenue.

European Wax Center acquisition price

$640M

Acquired by General Atlantic · Feb 2026

European Wax Center revenue at acquisition

$200M

Last twelve months · Feb 2026

European Wax Center revenue multiple at acquisition

3.2x

EV/Revenue · Feb 2026

European Wax Center EBITDA multiple at acquisition

9.1x

EV/EBITDA · Feb 2026

European Wax Center Overview

About European Wax Center

European Wax Center Inc is a franchisor and operator of OOH waxing services. Its product sales consist of revenue earned from sales of proprietary wax. Its services include Brazilian Waxing, Brow Waxing, Body Waxing, Facial Waxing, All Waxing Services, Eyebrow Tinting, Laser Hair Removal, Men's Waxing Services and others.


Founded

2021

HQ

United StatesUnited States

Status

Acquired

Revenue

$200M (Feb 2026)

Valuation

$640M (acquired Feb 2026)

European Wax Center Acquisition

European Wax Center was acquired by General Atlantic for $640M on 10 February 2026.

The acquisition price implies a 3.2x revenue and 9.1x EBITDA multiple on $200M of revenue.

On 10 February 2026 European Wax Center, the Nasdaq-listed US franchisor of out-of-home waxing services, agreed to be taken private by General Atlantic in an all-cash transaction. Stockholders other than General Atlantic affiliates were to receive $5.80 per share, a 45% premium to the prior closing price. General Atlantic was already a significant shareholder, holding about 42% of the company, and purchased the remaining shares. The company completed the take-private on 8 May 2026 at an implied enterprise value of approximately $640 million, after which its Class A shares ceased trading on Nasdaq. European Wax Center is headquartered in Plano, Texas, and operates more than 1,000 centers across 44 states, performing about 23 million services a year with its proprietary Comfort Wax. The company earns franchise royalties and sells proprietary retail products, and General Atlantic backs its expansion as a private company.

European Wax Center acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
  • General Atlantic
10 Feb 2026PE buyout$640M3.2x9.1x

Sources: quiverquant.com, linkedin.com

European Wax Center as a Public Company

European Wax Center traded as NAS: EWCZ before it was taken private. Its acquisition was announced in February 2026. April 2026 is its last month on record as a listed company, with a market cap of $257M and an enterprise value of $563M.

Last-twelve-month revenue was $208M, with EBITDA of $73M (35% margin), and the shares traded at 2.7x EV/Revenue and 7.7x EV/EBITDA.

Over the 4 years before that, its market cap fell from $1B in April 2022 to $257M, while revenue grew from $188M to $208M.

European Wax Center market cap while listed

European Wax Center EV/Revenue (LTM) while listed

European Wax Center financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Apr 2026$257M$208M$73M35%2.7x7.7x
Apr 2025$135M$215M$74M34%2.2x6.3x
Apr 2024$572M$224M$77M34%4.0x11.7x
Apr 2023$949M$214M$74M35%6.0x17.3x
Apr 2022$1B$188M$66M35%6.1x17.3x

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month European Wax Center traded.

European Wax Center Funding History

European Wax Center has raised 1 funding round.

European Wax Center funding rounds
DateStageInvestorsDeal Summary
Aug 2018Strategic investmentGeneral AtlanticGeneral Atlantic announced a strategic investment in European Wax Center on August 21, 2018, when the franchisor operated more than 685 centers. Three General Atlantic executives, Andrew Crawford, Shaw Joseph and Mei Shi, joined the company's board as part of the investment. General Atlantic said it would help the company recruit more franchisees, expand its footprint, explore digital innovation and enter new markets. European Wax Center was founded in 2004 by brothers Joshua and David Coba, began franchising in 2008 and moved its headquarters from South Florida to Plano, Texas, in 2019. The brand sells waxing services and skincare products through franchised and company-owned centers across the United States. General Atlantic later took the company public with a 2021 Nasdaq listing and agreed to take it private again in 2026.

Who has invested in European Wax Center?

1 investor has backed European Wax Center across its funding rounds, including General Atlantic.


European Wax Center Investors

Investors in European Wax Center by funding rounds participated
InvestorHQRoundsRoleFirst check

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European Wax Center Competitors

European Wax Center competitors include listed companies like Musti Group, CEWE Group and Mears Group, and private ones like Jane Software, Booksy and Squire.

Public and private companies comparable to European Wax Center
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jane SoftwareCanadaVancouverPrivate$100M-$600M6.0x
BooksyPolandWarsawPrivate--$580M-
Musti GroupFinlandFinlandPublicly listed$571M$65M$560M-
SquireUnited StatesNew York City, NYPrivate$15M-$750M50.0x
CEWE GroupGermanyGermanyPublicly listed$1B$156M$862M1.0x
Mears GroupUnited KingdomUnited KingdomPublicly listed$1.5B$209M$455M0.5x

European Wax Center Public Comps

European Wax Center is no longer listed, but its public comps include Musti Group, Mears Group, Carriage Services, CEWE Group, XPS Pensions Group, Andrews Sykes Group, Propel Funeral Partners, IBJ Inc., Skinkandy and Kamakura Shinsho.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Musti Group$571M$65M1.5x-12.7x-
Mears Group$1.5B$209M0.5x0.5x3.7x4.5x
Carriage Services$417M$124M2.3x2.3x7.7x7.4x
CEWE Group$1B$156M0.9x1.0x5.6x5.7x
XPS Pensions Group$353M$80M2.9x2.8x12.9x9.7x
Andrews Sykes Group$103M$44M2.6x-6.1x-
Propel Funeral Partners$156M$37M2.4x2.3x10.1x9.4x
IBJ Inc.$128M$26M1.8x1.3x8.9x-

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Common questions about European Wax Center

When was European Wax Center founded?European Wax Center was founded in 2021.
Where is European Wax Center headquartered?European Wax Center is headquartered in United States.
Is European Wax Center publicly listed?No, European Wax Center was acquired by General Atlantic in February 2026.
Who acquired European Wax Center?European Wax Center was acquired by General Atlantic in February 2026.
How much was European Wax Center acquired for?European Wax Center was acquired for $640M in February 2026, a 3.2x revenue multiple.
What was European Wax Center's last funding round?European Wax Center's last funding round was a strategic investment round in August 2018.
Who are European Wax Center's investors?European Wax Center's investors include General Atlantic.
Which companies are comparable to European Wax Center?Companies comparable to European Wax Center include Jane Software, Booksy, Musti Group, Squire, CEWE Group and Mears Group.
What was European Wax Center's market cap before the acquisition?European Wax Center had a market cap of $257M in April 2026, its last month on record as a listed company, trading at 2.7x EV/Revenue.
What was European Wax Center's revenue as a public company?European Wax Center's last reported twelve-month revenue was $208M (April 2026), with EBITDA of $73M.

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