Collapsed NSW home builder Beechwood Homes has been sold as a going concern to a family-owned business, Cavasinni Constructions.
Beechwood's receivers Deloitte said the business had been sold for an undisclosed amount with all assets, including existing land, buildings, contracts and copyright.
It will be sold as a going concern to Resibuildco Pty Ltd which will be funded by Cavasinni Constructions and the Cavasinni family.
The business will continue to trade as Beechwood.
"Achieving a successful sale of the business as a going concern is the best possible outcome for homeowners, suppliers, tradespeople and employees, so we are pleased with this result," receiver Chris Campbell said in a statement.
Beechwood went into voluntary administration on May 13, leaving 360 consumers with their homes partly constructed and 580 others in limbo after paying deposits and buying plans.
A report from administrator Armstrong Wiley found the main factor in the building firm's collapse was its $43.8 million involvement in a horse breeding syndicate, Written Bloodstock.
Beechwood's new owner, Vic Cavasinni said the purchase was a "logical step towards expansion" of his family business.
"We have and will continue to work closely with the Office of Fair Trading and the insurers Vero to work through the needs of individual homeowners and complete their homes," he said.
All current Beechwood customers will receive information from the new owners shortly.
The new owners also have indicated they wished to continue using the tradespeople and suppliers previously used by Beechwood.
"Our first priorities will be to send a circular to all homeowners to outline our plans for the new business and the next steps that will be taken," Mr Cavasinni said in a statement.
"We will also be continuing site inspections to review the construction status of each home.
"Understandably, it will take a little time to recommence construction and source the appropriate contractors and supplies, but we will look to do this as soon as possible."
