That's an oversimplification. Private Equity's goal is to take control of the business and change it so that it has higher resell value. Often they do sell it

That's an oversimplification. Private Equity's goal is to take control of the business and change it so that it has higher resell value. Often they do sell it for parts, or they enshitify the hell out of it to squeeze revenue from loyal customers. Not necessarily because it's the optimal strategy, but because truly fixing a business is hard and these are decent shortcuts from their perspective. But that's not a given, sometimes they do truly turn it around for the better.