Transom Capital to buy Cree LED from Penguin Solutions
Penguin Solutions, the Nasdaq-listed AI infrastructure company, is selling its Cree LED lighting and display business to the middle-market firm.
Transom Capital Group has agreed to buy Cree LED, the LED business of Penguin Solutions, Inc. (Nasdaq: PENG), under a definitive agreement announced on November 4, 2026. Transom describes itself as a leading operations-focused middle-market private equity firm.
Penguin said the divestiture will let it concentrate on data center AI infrastructure and memory, its stated focus as a pure-play company. Cree LED will operate as a standalone business under Transom's ownership, building on its history of LED technology across lighting, displays and specialty applications.
Deal facts
- Target
- Cree LED
- Business
- LED business of Penguin Solutions, covering lighting, displays and specialty LED applications
- Buyer
- Transom Capital Group
- Sponsor
- Transom Capital Group
- Seller
- Penguin Solutions
- Deal type
- Platform
- Status
- Announced
- Announced
- Wednesday, November 4, 2026
Sources
- Business WireNov 4, 2026
- Yahoo FinanceNov 4, 2026
- Inside LightingNov 4, 2026
- MarketScreenerNov 4, 2026
- Private Equity InternationalNov 5, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.