European mergers and acquisitions bankers say private equity firms must change their tactics if they are to improve their dismal record of taking companies private.

According to an exclusive survey of 340 European M&A professionals carried out for Financial News by IntraLinks, the secure online workspace provider, nearly 40% of M&A bankers said financial sponsors must take a fresh approach as they attempt bigger and more controversial buyouts. In addition, 40% of private equity specialists interviewed admitted that they would benefit from a change in tactics when trying to convince shareholders and boards to back them on deals.