Groupe Chaumont Launches with Swiss Watch Startup Buys

Jan de Vries · 2026-07-10

Swiss watchmaking is getting a major shakeup. Startups Efteor and Telos Watch have been acquired by private equity firm Vam Investments, alongside established companies Le Composant and Henri Robert. This marks the official launch of Groupe Chaumont. ### A New Industrial Powerhouse Groupe Chaumont is a fresh industrial platform based in Neuchatel, Switzerland. Its focus? Producing movements, cases, tools, and components for high-end Swiss watches. The entrepreneurs behind all four acquired companies are reinvesting alongside Vam and becoming shareholders in Groupe Chaumont. They'll continue managing their own businesses, but now with shared resources. "The high-end watchmaking market demands absolute quality and precision," says Umberto Macchi di Cellere, CEO of Groupe Chaumont. "Our ambition is to build an industrial group where outstanding companies, rooted in the Swiss Made tradition, can share expertise and resources." ### Who's Behind the Deal? Founded in 2013 in Milan by Marco Piana, Vam Investments specializes in buyout investments and buy-and-build strategies. They focus on fragmented industries where several specialist businesses can unite under one platform. Over the past five years, Vam has invested more than $680 million in mid-market companies. Their portfolio includes Everest Group, Gym Nation Italia, Etjca, and Gruppo Florence. ### What Groupe Chaumont Now Owns The acquisition gives Groupe Chaumont immediate presence across multiple stages of watch component production. Their combined capabilities include: - Conceptualisation and technical development - Machining and finishing - Tooling and movement development - Manufacturing components using precious metals Let's break down each acquired company. ### Efteor: Precision in Precious Metals Founded in 2011 by Leonis Tafaj, Efteor is based in Bassecourt, in Switzerland's Canton of Jura. This startup produces limited-series watch cases and clasps made from precious metals for the ultra-luxury watchmaking industry. They employ 55 people, most of whom are specialist craftspeople. ### Telos Watch: Movement Masters Telos Watch was founded in 2009 in La Chaux-de-Fonds, Canton of Neuchatel, by Franck Orny and Johnny Girardin. The startup develops watch movements and complications, overseeing the entire creative and technical process from initial development to producing limited-series components and timepieces. ### Le Composant: Rotors and Bracelets Le Composant is another Bassecourt-based business associated with Tafaj. Established in 1988, it manufactures rotor weights and bracelets made from precious metals for high-end and ultra-high-end watch brands. ### Henri Robert: Micromechanics Specialist The fourth company, Henri Robert, is a micromechanics specialist based in La Chaux-de-Fonds. It has operated in the region since the 1960s and was acquired during the 2010s by Laurent Ryser and Thibault Richard. Henri Robert produces high-precision cutting tools used to machine watch components. ### What This Means for the Industry Together, the 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 industrial and commercial strategy. Leonis Tafaj, speaking for all the founders, 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 while continuing to provide customers with the highest standards of quality, reliability, and innovation represents an outstanding growth path." For the Swiss watchmaking world, this is a big deal. It creates a vertically integrated powerhouse that can deliver precision components at scale, without sacrificing the craftsmanship that makes Swiss watches legendary.