Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

M&A

November 2, 2012: 10:11 AM ET

Berkshire Hathaway has agreed to acquire Oriental Trading Co., an Omaha, Neb.-based direct marketer of party supplies and children's arts and crafts. The WSJ reports the deal would be worth approximately $500 million. Oriental Trading had been owned by The Carlyle Group and Brentwood Partners before filing for bankruptcy protection in 2010. Current owners include around a dozen financial institutions, including KKR. www.orientaltrading.com

Providence Equity Partners has agreed to sell its stake in iQiyi.com, a Chinese online video platform for professionally-produced content, to Baidu Inc. (Nasdaq: BIDU). No financial terms were disclosed. Baidu will hold a majority stake in iQiyi once the deal closes later this quarter. www.provequity.com

Platts, a unit of McGraw-Hill Cos. (NYSE: MHP) has completed its previously-announced acquisition of Kingsman SA, a Switzerland-based provider of price information and analytics for the global sugar and biofuels markets. No financial terms were disclosed. www.kingsman.com

The Sterling Group
has completed its previously-announced sale of Velcon Filters LLC, a Colorado Springs, Colo.-based maker of filtration equipment and replacement cartridges for the aviation, industrial fuel and industrial process filtration markets, to Parker Hannifin Corp. (NYSE: PH). No financial terms were disclosed, except that Velcon reported sales of $115 million for the year ending August 31, 2012. www.parker.com

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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