Who Do Private Equity Funds Sell Their Portfolio Companies To?

Private equity funds typically hold portfolio companies from 5-7 years in hopes of growing the company before selling the business for a return on their investment. But who do they sell to? We discussed who the most likely buyers are for lower middle market portfolio companies here and why more often than not the buyer is another PE fund.
MCM Capital is a lower middle market private equity firm with a focus on niche b2b component manufacturers and value-added distributors.
www.mcmcapital.com