News from our partner Rapid Security OÜ
GIAB, or Gabrielsson Invest AB, has owned companies and real estate in Estonia since the 1990s. Examples include GIAB Machining, the Kreenholm property in Narva, the Hippodrome development in Tallinn, the new hippodrome near Tallinn, the Estonian subsidiary of the Swedish security company Rapid Säkerhet, Rapid Security, and more.
GIAB, primarily engaged in real estate in Sweden, now fully owns the Estonian company OÜ EULE through its subsidiary OÜ GIAB. With this, GIAB aims to offer its clients and other subsidiaries in Estonia a broader range of value-added services.
OÜ EULE operates successfully in the field of construction engineering and technical design, specializing in the planning and modeling of electrotechnical system solutions related to security, information technology, and building automation in BIM projects.
Following the completion of the transaction, Tõnu Kutsar, the former owner, will continue as CEO on the board of OÜ EULE. Joining the board are Mikk Mehide, CEO and board member of Rapid Security, and Jaanus Mikk, board member of GIAB Estonia. Jaanus Mikk has been associated with GIAB Group’s activities in Estonia for 30 years.
EULE CEO Tõnu Kutsar is satisfied with the agreement reached with the Swedish investor:
“Being part of the GIAB Group opens new perspectives for EULE to expand its client base and secure larger-scale orders. We have been in operation since 2001, providing engineering services for many landmark construction projects in Estonia. Our work includes projects such as the Estonian National Museum (ERM), KUMU Art Museum, North Estonia Medical Centre (PERH), Tartu University Hospital, Estonian embassies and representations, Enefit oil plants, power stations, new prisons, border infrastructure, and other internal security facilities. Recent projects include the GreenergyDataCenters data center, which won the 2022 Best Security Solution award, and the design of automation and low-voltage systems for the new Tallinn Hospital. We have ample experience and ambition to advance further in the international market. By increasing our operations, we aim to offer even more employment opportunities for talented young engineers in Estonia,” said Tõnu Kutsar.
Mikk Mehide, CEO of Rapid Security, is convinced that the agreement will generate significant synergy for the GIAB Group:
“We share important mutual interests and have overlapping clients. In addition to manned and video surveillance, Rapid Security offers innovative technical security solutions, fire safety, smart locks, access control systems, and low-voltage solutions in Estonia. EULE, in turn, specializes in designing such systems. Together, we can provide our clients with broader added value,” stated Mikk Mehide.
Tõnu Kutsar, Jaanus Mikk, Mikk Mehide
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