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,…

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