Is there a good example of a private equity buyout which wasn't based on that strategy?

My understanding is that there are private equity firms who have legitimate strategy and competency with turning around struggling companies.

Good examples have come up in fast food industry like Arby's and Buffalo Wild Wings.

Last paragraph on this article:

https://www.fershman.com/articles/private-equity%E2%80%99s-s...

This "vampire the company into a debt spiral" strategy is definitely not what happened in these cases, though we can argue about whether the end product is better or worse off for it. I'm certainly not lining up at Arby's, Dunkin, or Buffalo Wild Wings. Still, I think that question is essentially irrelevant to the topic at hand: this is a private equity firm that's legitimately trying to make the company healthier on business fundamentals.

Very few, but Canada Goose’s acquisition by Bain Capital was arguably a scaling play, and worked pretty well.