Private equity isn’t the first choice when business owners and executives consider selling their companies, according to a new study. The survey, conducted in the spring, polled companies varying in terms of age, industry and geography. The survey found that, while their backgrounds differ, many lack planning on exits, with only a quarter of executives having a detailed strategy in place. When asked to whom they would prefer to sell their businesses, respondents said they favor public or private corporations, giving them an average rating of 1.78, with 1 being the favorite. Private equity got a 2.46 rating, according to...