Coating Place Taps New Leaders, Capital for 50th Anniversary Growth

VERONA, Wis. – January 23, 2026 – As it celebrates its 50th anniversary, specialized contract development and manufacturing organization (CDMO) Coating Place has announced significant leadership changes poised to accelerate its next phase of growth. The company has appointed Ajay Damani as its new President and added Rob Schrepfer to its Board of Directors. These strategic appointments follow a recent growth investment from healthcare-focused private equity firm 1315 Capital, signaling a concerted effort to expand the company’s market leadership in advanced pharmaceutical manufacturing.

The moves come at a pivotal moment for the Verona-based company, a long-standing leader in Wurster fluid bed technology, a sophisticated process used for microencapsulation in controlled-release drug delivery and taste masking. By combining fresh capital with seasoned executive talent, Coating Place is strategically positioning itself to meet rising demand across the pharmaceutical, nutraceutical, and animal health sectors.

A Strategic Infusion of Capital and Expertise

The foundation for these leadership changes was set by a recent growth investment from 1315 Capital. The Philadelphia-based firm, which manages over $1 billion in assets, specializes in providing growth capital to commercial-stage healthcare companies. Their investment portfolio demonstrates a clear focus on outsourced pharmaceutical services, including other specialized CDMOs like clinical trial supplier Experic and particle engineering specialist Codis. This pattern suggests a strategic thesis centered on backing companies with unique, high-value manufacturing capabilities.

While financial terms were not disclosed, the investment is designed to enable Coating Place to significantly scale its operations and broaden its commercial reach. The appointment of new leadership is a direct extension of this strategy, adding layers of commercial and operational expertise to steer the company's expansion. The combination of financial backing and strategic leadership aims to fortify the company’s ability to serve its customers and innovate within its niche.

New Leadership to Steer Expansion

The two new appointees bring a wealth of experience directly relevant to Coating Place’s strategic ambitions. Ajay Damani, who steps into the role of President and joins the Board of Directors, will report to CEO Tim Breunig. Damani is a veteran of the CDMO sector, with a distinguished track record in leadership roles at companies including Adare Pharmaceuticals, Capsugel (now part of Lonza), and CoreRx, where he served as CEO. He is widely recognized for his expertise in driving commercial growth and operational excellence in pharmaceutical services. His deep background in drug delivery solutions, particularly in modified and targeted release technologies, aligns perfectly with Coating Place's core business.

Joining the company's Board of Directors is Rob Schrepfer, the current President of North American Generics at distribution giant McKesson. In his role, Schrepfer oversees the generics, over-the-counter (OTC), and biosimilars categories, giving him an invaluable strategic perspective on the end markets that Coating Place serves. His background also includes roles in equity research covering the pharmaceutical sector at Bear Stearns and in business development for a specialty pharmaceutical company. Schrepfer’s financial acumen and deep understanding of evolving customer and industry needs are expected to provide crucial guidance as the company navigates its growth trajectory.

Navigating a Growing Microencapsulation Market

Coating Place's strategic push comes amid strong tailwinds in the specialized pharmaceutical manufacturing sector. The global market for fluid bed coating technology, the cornerstone of the company's offerings, is projected to experience robust growth. Market analyses estimate the sector will expand from approximately $1.47 billion in 2023 to over $2.8 billion by 2033, reflecting a compound annual growth rate (CAGR) of nearly 7%.

This growth is fueled by several key drivers. The pharmaceutical industry's increasing focus on complex drug delivery systems to improve patient compliance and therapeutic outcomes has heightened the demand for advanced controlled-release and taste-masking technologies. Microencapsulation provides a critical solution, protecting sensitive active pharmaceutical ingredients (APIs), improving their bioavailability, and ensuring they are released effectively in the body. As pharmaceutical companies continue to outsource complex manufacturing to specialized partners, expert CDMOs like Coating Place are becoming indispensable.

However, the market is not without its challenges. The development of effective controlled-release formulations is a complex science, requiring deep expertise to manage API properties and achieve reproducible results. Furthermore, operating the sophisticated Wurster coating equipment is a highly technical skill. Coating Place's long history and specialized focus provide a significant competitive advantage in navigating these complexities.

Fortifying a 50-Year Legacy in Wurster Technology

Founded in 1976, Coating Place has built its reputation on its mastery of Wurster fluid bed microencapsulation. The company claims a unique heritage as the global leader in the technology, leveraging proprietary processes tied to the original equipment designs of its inventor, Dr. Dale E. Wurster. This deep-seated expertise is a key differentiator in a competitive landscape that includes large, diversified players such as Evonik Industries and Hovione.

Operating from over 350,000 square feet across two GMP-compliant and FDA-registered sites, the company offers a comprehensive suite of services from formulation development to commercial-scale manufacturing. The celebration of its 50th anniversary provides a powerful narrative, combining a legacy of trust and quality with a renewed, forward-looking vision. The recent investment and leadership appointments are not merely additions but catalysts intended to build upon this half-century foundation. With these strategic moves, Coating Place is positioning itself not just to celebrate its past but to aggressively shape the future of specialized pharmaceutical manufacturing.