TY - JOUR T1 - Strategic Change in Firms Following Private Equity Acquisition: <em>An Ex Post Study of U.K. Technology, Industrial, and Communications Firms</em> JF - The Journal of Private Equity SP - 22 LP - 29 DO - 10.3905/jpe.2010.13.3.022 VL - 13 IS - 3 AU - Steven E. Minns Y1 - 2010/05/31 UR - https://pm-research.com/content/13/3/22.abstract N2 - This article examines strategic change and value creation in U.K. technology, industrial, and communications buyouts. Over recent years, the U.K. has been the largest European private equity market and these sectors have been the most significant in terms of aggregate deal value. Seven distinct post-acquisition strategies were found to have been adopted by the buyout firms in the research sample. In support of previous research, the findings confirm that a common approach is to focus on core business and to divest non-core assets. However, a more surprising finding is that there is often no significant change to strategic direction. This leads to the conclusion that other methods of creating value, such as through corporate finance restructuring or through efficiency improvements, are often the principal means of creating value in these firms.TOPICS: Private equity, developed, statistical methods, performance measurement ER -