A private equity buyout (PEB) constitutes an important organizational event that usually heralds major organizational transformations. As such, the announcement of a possible PEB can be expected to impact the organization and require careful management of the pre-PEB process. This article investigates the role and contribution of human resource management (HRM) during a two-year process of negotiations preceding a PEB. It shows the vulnerability of HR-based change contributions to uncertainty about the future, as uncertainty accentuates the ambiguity inherent in HRM based change. Furthermore, it highlights the importance of the role of top-management and the possibilities for HRM during the period leading up to a PEB.
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