Berkshire Hathaway (BRK) is buying 60% of Marmon Holdings Inc., a diversified industrial firm with about $7 billion in annual revenue and more than 125 operating units, according to The Wall Street Journal.

The initial deal will be for 60% of the company and will be valued at $4.5 billion. The balance will be completed in 2014 based on the company’s performance.

Douglas A. McIntyre