It is one of Ireland’s most successful family-owned businesses; a sprawling and substantial presence employing more than 2,500 companies across 29 countries. Its accounts are locked behind an unlimited corporate structure, so there is little visibility on its finances. But the scant detail that is available paints an impressive picture of both robust profitability and immense shareholder value. Put bluntly, Fexco, based in Killorglin, a small town in west Kerry with a population of just 2,200 people, is one of Ireland’s most valuable indigenous businesses, and its shareholders, the McCarthy family, are among the wealthiest in the state. Since it…

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