The main reason is that EIG has a very bad reputation of ruining the hosting companies it acquires.
HostGator, Arvixe, A Small Orange, Site5 and Bluehost are all owned by EIG. (full list below)
We have all heard the horrible stories from former clients of these hosts which had a noticeable and sharp deterioration in their customer services after being acquired by EIG.
EIG “optimises” the cost structure of the hosting companies it acquires.
They then layoff the majority of the great (expensive) support staff and migrate the client list to there over subscribed hardware infrastructure.
EIG’s core strategy is to expand as much as possible without due care and attention of the clients they are acquiring.
This is not about creating a better hosting environment for there clients, or finding an acceptable compromise between high quality service and there profitability.
This is a purely targeted method of pleasing there shareholders.
I personally oppose this approach of doing business.
When a big company like EIG acquires a bigger share of the market by aggressive marketing and offering cheap web hosting with a support system that only operates at the behest of the shareholders it ruins the web hosting ecosystem.
As a result those small hosting companies that offer a truly great service become less noticeable and the ordinary people who are just looking for a good hosting service see there chances slipping away as EIG continues to grow by acquisition but cover there tracks by leaving the hosting companies they have bought with there own unique brand.
I personally find this last bit the most insidious, EIG have acquired over 80 Hosting companies but continue to operate them under there original names while physically moving all the clients websites to over subscribed puppy farm servers designed to stack as many sites as they can possibly fit without the servers crashing completely and then makes sure they all use the same shared support system and agents.