Groupe Chaumont Launches with Swiss Watch Startup Buys

Jan de Vries · 2026-07-10

Swiss watchmaking is getting a major shake-up. Two startups, Efteor and Telos Watch, have been bought 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 platform based in Neuchatel. ### What is Groupe Chaumont? Groupe Chaumont is a new holding company focused 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. They'll keep managing their own businesses, which is smart. "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." His vision? Building a group where outstanding companies, rooted in the Swiss Made tradition, can share expertise and resources. The goal is to create the leading platform for high-end watch components. ### The Acquisitions in Detail Here's what Groupe Chaumont now owns: - **Efteor**: Founded in 2011 by Leonis Tafaj, based in Bassecourt. This startup produces limited-series watch cases and clasps from precious metals for ultra-luxury brands. It employs 55 people, mostly specialist craftspeople. - **Telos Watch**: Founded in 2009 in La Chaux-de-Fonds by Franck Orny and Johnny Girardin. They develop watch movements and complications, handling everything from initial design to limited-series production. - **Le Composant**: Also in Bassecourt, associated with Tafaj. Established in 1988, it manufactures rotor weights and bracelets from precious metals for high-end brands. - **Henri Robert**: A micromechanics specialist in La Chaux-de-Fonds, operating since the 1960s. It produces high-precision cutting tools for machining watch components. ### The Bigger Picture Vam Investments, founded in 2013 in Milan by Marco Piana, specializes in buyout and buy-and-build strategies. Over the past five years, it has invested over $680 million (converted from EUR 600 million) in mid-market companies. Its portfolio includes Everest Group, Gym Nation Italia, Etjca, and Gruppo Florence. This acquisition gives Groupe Chaumont an immediate presence across several stages of watch component production. Their combined capabilities include conceptualization, technical development, machining, finishing, tooling, movement development, and manufacturing with precious metals. ### Why This Matters The high-end watchmaking market demands absolute precision. By bringing these four companies together, Groupe Chaumont creates a one-stop shop for luxury watch components. Each company keeps its operational autonomy while working within the group's wider strategy. Leonis Tafaj, speaking for the founding entrepreneurs, said: "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 the highest standards of quality represents an outstanding growth opportunity." This move shows how private equity is reshaping traditional Swiss watchmaking. Instead of disrupting it, they're preserving craftsmanship while adding scale and resources. For the Swiss watch industry, that's a winning formula.