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@youramericanlover
I don't really think the poor website is an indication or metaphor of the PE's business model for Rapha. The average length of time for a PE house to hold an middle market (eg Rapha) investment is 3-6 years. So what they mean by "long term" strategy and investment is making Rapha peak their profitability in about 5 years time, at which point the Walmart grandsons PE house will flip it (in various portions to various other PE vehicles) for a profit. Not all takeovers are successful, but certainly the new owners will be doing their utmost to get as much out of the business ASAP. Creating a shit website is not part of that strategy, more likely just poor management or bad tendering process for the redesign. IMO Rapha is more likely to seem great in the next couple of years then start to suffer (at least financially or in terms of debt) in about 4 years time as it get prepped for another sale to another host of owners.
Who will then repeat the cycle above.