The Middleby Corporation, an industrial process equipment company, completed the acquisition of Taylor Company, an equipment manufacturer, from UTC, an building technologies provider, for $1bn. "The acquisition of Taylor is highly strategic for Middleby and bolsters Middleby’s overall position as an industry leader in commercial foodservice. Taylor is a unique and premium brand in the commercial foodservice industry with leading positions in beverage, frozen dessert and grilling that are highly complementary to our existing offerings," Selim A. Bassoul, Middleby CEO.