Kirkland Advises Transom Capital Group on Acquisition of Cree LED

Kirkland & Ellis represented Transom Capital Group, a leading operations-focused middle-market private equity firm, on its definitive agreement to acquire Cree LED from Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company. Cree LED offers one of the industry’s broadest portfolios of application-optimized LED chips and components, leading the industry in performance and reliability. The planned divestiture reflects Penguin Solutions’ commitment to creating long-term shareholder value. It will further align the company’s portfolio, resources and capital allocation priorities with the significant growth opportunities it sees in data center AI infrastructure and memory.

Read the transaction press release

The Kirkland team included corporate lawyers Jeff Swatzell, Lauren Iwasaki and Marty DiLoreto.