As someone who once worked with PE funds on several deals, I can vouch for the fact that they can do things from time to time that many people probably wouldn't approve of.
On more than one occassion I was asked to run the numbers to see if they could shut down a potential acquisition profitably. If you're a manufacturer of circuit boards, for example, and have several design wins, you'll typically keep getting orders for those for at least a few years, so it can actually be profitable to lay off all engineering, sales and marketing, and keep just enough people to fill the incoming orders. If your manufacturng is off-shore, that's even easier. I dreaded doing this, and felt lucky that in every case it didn't make sense to pursue this strategy. In another case, we were looking at a company for nothing else than its corporate structure (tax-sheltered HQ off-shore, etc.) and really didn't care about what it actually made.
So there can definitely be reasons to be wary about PE funds buying your favorite company, but in this case, I'm not too concerned. And that's as someone who has several pairs of AE shoes and plans to buy more in the future.