Swiss Watch Group Launches with Dual Startup Buyout

Jan de Vries · 2026-07-10

Private equity firm Vam Investments has acquired two Swiss watchmaking startups, Efteor and Telos Watch, along with established manufacturers Le Composant and Henri Robert. This move marks the official launch of Groupe Chaumont, a new industrial platform based in Neuchatel. Groupe Chaumont focuses on 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 respective businesses. ### What Groupe Chaumont Brings to the Table "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." Macchi di Cellere adds: "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. Together, we will build the leading platform dedicated to components for high-end watchmaking." ### The Players 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 be brought together under a shared platform. Over the past five years, Vam has invested more than $650 million in mid-market companies. Their 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. ### The Acquired Companies at a Glance The combined capabilities of the four businesses include: - Conceptualization and technical development - Machining and finishing - Tooling and movement development - Manufacturing components using precious metals **Efteor** was founded in 2011 by Leonis Tafaj. 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. 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. ### 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 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 growth opportunity." This consolidation reflects a broader trend in Swiss watchmaking, where smaller specialist firms are joining forces to compete in the global luxury market. By pooling resources and expertise, Groupe Chaumont aims to become a dominant player in high-end watch component production.