In November 1999, MCP led a leveraged recapitalization to acquire the assets of the Amoco Fibers and Yarns business from BP Amoco Plc. Management joined MCP in the acquisition, creating American Fibers and Yarns. American Fibers and Yarns is a leading domestic producer of polypropylene fiber and yarn for a variety of end-use applications including home furnishings, automotive, and apparel as well as polyphenylene
sulfide staple fibers for high-performance applications such as hot gas filtration.
In September 2008, AFY filed for bankruptcy and ceased operations.
Date of Investment: November 1999
Date of Exit: September 2008