This is classic Wall Street private equity behavior. Use borrowed money to buy the company, loot the place, and flip it. It's pure parasitic behavior but not illegal.

I would advise anyone working at a company acquired by private equity to bail out ASAP. It is just a matter of time before you get screwed. Especially don't get left with a bunch of company stock.

I do wonder why creditors keep funding these PE deals and why anyone participates in their share offerings. You're asking to get taken.