Groupe Chaumont Launches With Two Watch Startup Buys

Jan de Vries · 2026-07-10

Swiss watchmaking is getting a serious consolidation play. Private equity firm Vam Investments has acquired two startups, Efteor and Telos Watch, along with established manufacturers Le Composant and Henri Robert. The move officially launches Groupe Chaumont, a new industrial platform based in Neuchatel. ### What Is Groupe Chaumont? Groupe Chaumont is built to produce 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 will continue running their own businesses. “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.” ### Who Is Behind The Deal? Vam Investments was founded in 2013 in Milan by Marco Piana. They specialize in buyout and buy-and-build strategies, particularly in fragmented industries where multiple 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. ### The Four Companies Joining Forces - **Efteor**: Founded in 2011 by Leonis Tafaj, based in Bassecourt, Switzerland. This startup produces limited-series watch cases and clasps made from precious metals for ultra-luxury watch brands. It employs 55 people, most of whom are specialist craftspeople. - **Telos Watch**: Founded in 2009 in La Chaux-de-Fonds by Franck Orny and Johnny Girardin. This startup develops watch movements and complications, handling everything from initial concept to limited-series production. - **Le Composant**: 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**: A micromechanics specialist based in La Chaux-de-Fonds, operating since the 1960s. Acquired and developed during the 2010s by Laurent Ryser and Thibault Richard, it produces high-precision cutting tools used to machine watch components. ### What This Means For The Watch Industry Together, these four businesses give Groupe Chaumont a portfolio spanning cases, clasps, bracelets, rotor weights, movements, complications, and specialized manufacturing tools. Each company will retain operational autonomy while working within the group’s wider industrial strategy. Leonis Tafaj, speaking on behalf of the other 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 and experience while continuing to provide our customers with the highest standards of quality, reliability and innovation represents an outstanding growth opportunity.” ### Why This Matters For US Watch Professionals For American watch brands and retailers, this consolidation means a more streamlined supply chain for premium components. Swiss watchmaking’s fragmented supplier landscape has long been a challenge for brands seeking consistent quality and delivery. Groupe Chaumont aims to solve that by offering a single point of contact for multiple critical components. It also signals growing private equity interest in luxury manufacturing. Vam’s track record suggests they’re building for the long haul, not a quick flip. That’s good news for brands that rely on Swiss Made precision. ### The Bottom Line Groupe Chaumont is positioning itself as the go-to industrial partner for high-end watchmaking. With four specialized companies under one roof, they can offer everything from cutting tools to finished movements. For US watch professionals, this could mean faster lead times, easier sourcing, and consistent quality across the board.