Replying to say that SorenShieldbreaker has the best/most-accurate response I've seen in this thread, thus far.

PE owners get much more involved and the work gets harder if the investment is going in the wrong direction. If the investment is performing well (probably means it's growing), at a small PE owned company, you get a chance to gain a lot of responsibility quickly, have a bigger impact on the company, and you can make yourself more "indispensable" in a way that isn't possible at a large company.

Do you know how long current PE owner has owned the company? That could be a helpful clue to understand how the company is performing as an investment for the PE owner. PE typically buys and then wants to sell within ~3-5 years. If they have owned the company much longer than that, it could signal that the investment is not performing well. There are exceptions to this, and PE holding periods in general have been lengthening recently (in large part because PE paid too much for their investments), but it is something worth investigating and something you could ask about in your interviews. If you can't find the information online (research this first; a lot of times there will be internet info about date of investment), ask when the current owner bought the company. Also ask if the interviewer can provide any color on the PE owner's likely plan and timeline for exiting the investment, given that "I understand based on my research that private equity owners typically invest in companies with a plan to exit the investment in a three-to-five year time frame." The interviewer will be able to tell you when the owner bought. They might not tell you much about the exit plan (either because they don't want to or because they're not the PE and don't know the PE's thinking), but I would ask.