Anecdotes: What's the slyest maneuver you've seen a PE Firm do to make a buck?

What's the shiftiest, sketchiest thing you've witnessed a PE firm do to make money-- or to avoid liabilities? Looking for personal anecdotes, anonymized to the point you'd be comfortable sharing. This is not a discussion on ethics or what's right/wrong, but I heard the below story the other day and wanted to hear similar stories:

A founder told me the other day-- in an obviously abridged manner, I don't know the full story-- that he sold 51% his MM industrials business to a private equity firm. Shortly thereafter, the PE firm, which controlled the BoD and voting per its majority share, moved all of the company's assets to a separate, new company and hired new managers to run it. The former owners were left with a 49% stake in an empty shell of a company, no assets or anything. The previous owner was obviously upset they lost half of their business "just because the new owners had better lawyers", but it turned out to not be as bad as it seemed: this occurred shortly before the 2008 recession and the business was automotive-tangential. Their largest competitor went bankrupt and the company itself had to scale back operations, closing down some of its plants. I suppose getting 50% of the money is better than getting 0%.