Swiss Watch Titan Launches via Dual Startup Buyout

Jan de Vries · 2026-07-10

A new heavyweight has entered the high-end Swiss watch scene. Groupe Chaumont officially launched this week after acquiring four specialized companies, including two watchmaking startups, in a move that signals consolidation is coming for the fragmented luxury components market. ### The Deal at a Glance Private equity firm Vam Investments led the acquisition of Efteor, Telos Watch, Le Composant, and Henri Robert. The startups Efteor and Telos Watch join established players Le Composant and Henri Robert under the new Groupe Chaumont banner. The entrepreneurs who built these businesses are reinvesting alongside Vam and will keep running their own shops while holding shares in the parent group. ### What Groupe Chaumont Actually Does Headquartered in Neuchatel, Switzerland, this industrial platform focuses on producing movements, cases, tools, and components for high-end Swiss watches. The combined capabilities across the four acquired firms cover the full spectrum of watchmaking: - Conceptualization and technical development - Machining and finishing - Tooling and movement development - Manufacturing components from precious metals "The high-end watchmaking market requires components of absolute quality and precision," said Umberto Macchi di Cellere, CEO of Groupe Chaumont. "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." ### The Startup Stars: Efteor and Telos Watch Efteor, founded in 2011 by Leonis Tafaj, operates from Bassecourt in Switzerland's Canton of Jura. This startup produces limited-series watch cases and clasps made from precious metals for the ultra-luxury market. The company employs 55 people, most of whom are specialist craftspeople. Telos Watch, founded in 2009 by Franck Orny and Johnny Girardin, calls La Chaux-de-Fonds home. This startup develops watch movements and complications, handling everything from initial concept through to producing limited-series components and complete timepieces. ### The Established Players: Le Composant and Henri Robert Le Composant, also based in Bassecourt and associated with Tafaj, has been operating since 1988. The company manufactures rotor weights and bracelets 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 been 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. ### Why This Matters for the Industry This acquisition gives Groupe Chaumont an immediate presence across several stages of watch component production. Each company keeps its operational autonomy while working within the group's wider industrial and commercial strategy. The combined portfolio now spans cases, clasps, bracelets, rotor weights, movements, complications, and specialized manufacturing tools. Vam Investments, founded in 2013 in Milan by Marco Piana, specializes in buyout investments and buy-and-build strategies. Over the past five years, it has invested more than $680 million in mid-market companies. Its portfolio includes Everest Group, Gym Nation Italia, Etjca, and Gruppo Florence. ### What the Founders Say Leonis Tafaj, speaking on behalf of the founding entrepreneurs, 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 path." ### Looking Ahead Groupe Chaumont aims to become the leading platform dedicated to components for high-end watchmaking. By bringing together specialized skills under one roof, the group hopes to offer watch brands a single source for the precision components that define Swiss luxury timepieces. For the startups involved, this acquisition provides access to broader resources and distribution networks while preserving the craftsmanship that made them attractive acquisition targets in the first place.