UTC Climate, Controls & Security, a unit of United Technologies Corp., has signed a definitive agreement to sell Taylor Company to The Middleby Corporation, a publicly traded company in the foodservice industry. The sale is expected to close early in the third quarter, subject to customary closing conditions, including regulatory approvals. UTC Climate, Controls & Security is a leading provider of integrated building solutions, including heating, air conditioning and refrigeration systems, building controls and automation, and fire and security systems.
This action allows UTC Climate, Controls & Security’s Carrier Transicold & Refrigeration Systems business to focus on its two core strengths in transport and commercial refrigeration, while providing Taylor Company with an excellent fit for its offerings, which are complementary to Middleby’s industry-leading portfolio of companies focused on the foodservice business.