In 1996, Denis and Marina Moynihan founded Airflow Services, an air conditioning and ventilation contractor, on the outskirts of Cork city. Ten years later, the US-listed buildings technology multinational Johnson Controls performed a corporate inversion as it acquired alarms supplier Tyco, and its global headquarters became domiciled in a towering office block on the city centre’s quays, a short drive away from Airflow’s base. Now Johnson’s move has provided the Moynihans with the perfect exit strategy as they hit their mid-50s. According to a merger notification to the Competition and Consumer Protection Commission, Johnson Controls, through a Luxembourg holding company,…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .