Squale was founded by Charles von Büren in Neuchâtel, Switzerland, in 1946 as a manufacturer of watchcases and other components for other watch brands. Originally, the "Squale" mark appeared on watches as a symbol of the case's origins and pride in its quality.

In 1950, von Büren S.A./Montres began to produce their own range of professional diving watches under the Squale brand name. These watches were not marketed for jewelry shops but rather specialty dive stores.

During the 1960s and 1970s, Squale provided cases for Altanus Genève, Arlon, Potens Prima, Prima Flic, Jean Perret Geneva, Ocean Diver / Blandford, Deman Watch, Margi, Berio, Eagle Star Genève, La Spirotechnique, Wertex, Carlson Tavernier Geneva, and Sinn. Cases designed for 500m water resistance with the crown located at the "4 o'clock" position were sold to Airin, Dodane, Blancpain, Tag Heuer, Doxa, Zeno, and Auricoste. Squale also supplied the parachutists corps "Folgore Brigade" part of the Italian Airforces ("Aeronautica Militare Italiana") and the Italian Navy’s Diving Corps ("Marina Militare Italiana") with timepieces during this period.