I assume you're asking this rhetorically and just want people to affirm how 'evil' private equity is to support the narrative-driven belief you already have?
PE became a favorite journalist boogeyman in the 80s for saddling companies with high interest debt they could never repay or slicing up industrial companies and selling for parts. That's not reality today. A vast majority of private equity buyouts nobody ever hears about or cares about because everything turns out totally fine.
A private equity buyout that makes the company worse off, destroys customer trust, kills employee loyalty, and leaves room for competitors to swoop in is a failed private equity buyout. If that were true in the majority of cases the entire PE model wouldn't work at all.
Here's just a few success stories of companies you've heard of (there's thousands you haven't heard of, so no point in bringing them up).
- Hilton Hotels
- Dunkin Brands
- Beats by Dre
- Dominos Pizza
- Petsmart / Chewy
Businesses that sell to private equity are often businesses that are not doing well or are not long-term sustainable, hence why the owner wants to sell. Think about it logically. If you're running a fantastic business that is profitable, growing, sustainable, with happy employees -- why would you sell?? Or in the case of public companies being taken private, why would anybody take the risk if everything is going wonderfully?