Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
Le Brassus, Switzerland—Audemars Piguet has acquired a majority stake in Swiss manufacturer Inhotec, the company announced Wednesday.
The terms of the acquisition were not disclosed.
The manufacturer is known for its expertise in micromechanics and precision machining and is a supplier of Audemars Piguet.
“This investment is built on shared values. It is about consolidating strategic key skills and supporting the continuity of an expertise that is essential to the future of haute horologerie, not only for Audemars Piguet, but for the entire industry,” said Audemars Piguet Chief Industrial Officer Lucas Raggi.
Inhotec will remain an autonomous company under the same name, said Audemars Piguet, and it will continue serving all current clients, including the watch brands in its portfolio.
While Audemars Piguet will provide strategic and financial support to the company, its managerial decisions, industrial activities, and commercial relationships will be under the control of Inhotec’s management team.
Inhotec founder Alexandre Eme will stay in his current position as CEO and chairman of the board, and retain a “significant” minority stake in the company.
Eme, a watch enthusiast who began working in the watch sector at the age of 20, founded the company in 2011 in Le Locle, Switzerland, as per its website.
“This partnership marks an important milestone in Inhotec’s history,” said Eme.
“Audemars Piguet’s investment is a strong vote of confidence in our team, our expertise, and our long-term potential. By joining forces, we are creating the conditions for Inhotec to continue innovating and serving the entire watchmaking industry.”