Groupe Chaumont Launches, Buys Two Swiss Watch Startups

Jan de Vries · 2026-07-10

Swiss watchmaking is getting a serious upgrade. Two startups, Efteor and Telos Watch, just got snapped up by private equity firm Vam Investments. They're joining forces with established players Le Composant and Henri Robert to form Groupe Chaumont. This new industrial platform is based in Neuchatel, Switzerland. Its mission? To produce movements, cases, tools, and components for high-end Swiss watches. The founders of all four acquired companies are reinvesting alongside Vam. They're becoming shareholders in Groupe Chaumont while continuing to run their own businesses. ### A New Powerhouse in Watchmaking Groupe Chaumont isn't just another holding company. It's a carefully built platform aimed at dominating the high-end watch component market. Umberto Macchi di Cellere, CEO of Groupe Chaumont, put it best: "The high-end watchmaking market requires components of absolute quality and precision. Against this backdrop, Groupe Chaumont aims to be an industrial partner capable of bringing together, under a single Swiss banner, the finest savoir-faire." Think about what that means. From cases to movements, from cutting tools to complex complications, this group now covers it all. They're not just acquiring companies; they're creating a ecosystem where expertise flows freely. ### Meet the Founders Vam Investments, founded in 2013 by Marco Piana in Milan, specializes in buyout investments and buy-and-build strategies. They focus on fragmented industries where several specialist businesses can come together under one roof. Over the past five years, they've invested more than $700 million in mid-market companies. Their portfolio includes Everest Group, Gym Nation Italia, Etjca, and Gruppo Florence. Leonis Tafaj founded Efteor in 2011. Based in Bassecourt, Switzerland, this startup produces limited-series watch cases and clasps made from precious metals. They employ 55 people, mostly specialist craftspeople. Then there's Telos Watch, founded in 2009 by Franck Orny and Johnny Girardin. Located in La Chaux-de-Fonds, they develop watch movements and complications from concept to production. ### The Bigger Picture This acquisition gives Groupe Chaumont an immediate presence across several stages of watch component production. Their combined capabilities include: - Conceptualization and technical development - Machining and finishing - Tooling and movement development - Manufacturing components using precious metals The two startups join Le Composant, another Bassecourt business associated with Tafaj. Established in 1988, Le Composant manufactures rotor weights and bracelets made from precious metals. The fourth company, Henri Robert, is a micromechanics specialist based in La Chaux-de-Fonds. It has operated since the 1960s and produces high-precision cutting tools. ### What This Means for the Industry Together, these four businesses give Groupe Chaumont a portfolio spanning cases, clasps, bracelets, rotor weights, movements, complications, and specialized manufacturing tools. Each company keeps its operational autonomy while working within the group's wider strategy. Leonis Tafaj spoke for all the founders: "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 growth opportunity." This move signals a shift in the watch industry. Instead of relying on dozens of small suppliers, brands can now work with a single integrated partner. For startups, it means access to resources and scale they couldn't achieve alone. For Vam Investments, it's a bet on the enduring value of Swiss craftsmanship. And for watch lovers? It means the components inside their timepieces will only get better.