Groupe Chaumont Launches After Acquiring Two Watch Startups

Jan de Vries · 2026-07-10

Swiss watchmaking startups Efteor and Telos Watch have been acquired by private equity operator Vam Investments alongside established companies Le Composant and Henri Robert. This marks the official launch of Groupe Chaumont, a new industrial platform headquartered in Neuchatel. ### A New Player in High-End Watchmaking Groupe Chaumont focuses on producing movements, cases, tools, and components for high-end Swiss watches. The entrepreneurs behind the four acquired companies are reinvesting alongside Vam and becoming shareholders in Groupe Chaumont. They'll continue to manage their respective businesses while benefiting from the group's resources. "The high-end watchmaking market requires components of absolute quality and precision," says Umberto Macchi di Cellere, CEO of Groupe Chaumont. "Against this backdrop, Groupe Chaumont aims to be an industrial partner capable of bringing together, under a single Swiss banner, the finest savoir-faire from cases to movements, from cutting tools to the development of complications." ### The Vision Behind the Platform "Our ambition is to build an industrial group where outstanding companies, deeply rooted in the Swiss Made tradition and led by talented entrepreneurs, can share their experience, expertise and resources," Macchi di Cellere adds. "Together, we will build the leading platform dedicated to components for high-end watchmaking." Founded in 2013 in Milan by Marco Piana, Vam Investments specializes in buyout investments and buy-and-build strategies. The firm focuses on fragmented industries where several specialist businesses can be brought together under a shared platform. Over the past five years, Vam has invested more than $660 million in mid-market companies. Its portfolio includes Everest Group, Gym Nation Italia, Etjca, and Gruppo Florence. ### What the Acquisition Brings The acquisition gives Groupe Chaumont an immediate presence across several stages of watch component production. Its combined capabilities include: - Conceptualization and technical development - Machining and finishing - Tooling and movement development - Manufacturing components using precious metals ### The Four Companies at a Glance **Efteor** was founded in 2011 by Leonis Tafaj and is based in Bassecourt, in Switzerland's Canton of Jura. The startup produces limited-series watch cases and clasps made from precious metals for the ultra-luxury watchmaking industry. It employs 55 people, most of whom are specialist craftspeople. **Telos Watch** was founded in 2009 in La Chaux-de-Fonds, in the Canton of Neuchatel, by Franck Orny and Johnny Girardin. The startup develops watch movements and complications, overseeing the creative and technical process from initial development to the production of limited-series components and timepieces. **Le Composant**, another Bassecourt-based business associated with Tafaj, was established in 1988. It manufactures rotor weights and bracelets made from precious metals for high-end and ultra-high-end watch brands. **Henri Robert** is a micromechanics specialist based in La Chaux-de-Fonds. The company has operated in the region since the 1960s and was acquired and developed during the 2010s by Laurent Ryser and Thibault Richard. It produces high-precision cutting tools used to machine watch components. ### A Unified Portfolio Together, the four businesses give Groupe Chaumont a portfolio spanning cases, clasps, bracelets, rotor weights, movements, complications, and specialized manufacturing tools. Each company will retain its operational autonomy while working within the group's wider industrial and commercial strategy. Leonis Tafaj (Efteor and Le Composant), speaking on behalf of Franck Orny, Johnny Girardin (Telos Watch), and Thibault Richard and Laurent Ryser (Henri Robert), commented: "We are proud to be the founding companies of this initiative. We strongly believe in the project and in the value of collaboration. The opportunity to combine our expertise and experience while continuing to provide our customers with the highest standards of quality, reliability and innovation represents an outstanding opportunity."