I don't know how much we should count defense contractors as "privatized" there's bidding[1] and the contractors are financially independent[2] but, due to the nepotism of the system defense contracts are quite flush with money and it seems like most contracts end up benefiting semi-retired military folks by giving them a cushy landing (though this is anecdotal).

I think power utilities might be a better place to look at privatization - but most of those (like PG&E) end up frequently running afoul of a lack of oversight while also not really out-performing public power utilities[3].

1. Often times with insanely high barriers to entry sometimes including being "non-public"

2. To my knowledge the only defense-ish contractor folks that have gotten bailed out are the more public facing ones like Boeing which do mixed public/private work.

3. Though this industry has a terrible track record across the board for being accountable, profitable and responsible. I might point at VT Yankee https://en.wikipedia.org/wiki/Vermont_Yankee_Nuclear_Power_P... as an example where the company just tried to dissolve itself before paying for cleanup out of its contingency fee.