Paisley based Curot Contracts Limited, trading as Dimension Shopfitting, went into administration on Thursday.
Administrators from KPMG immediately concluded a sale of the business to Barrochan Limited and it will now become part of the City Gate Construction group.
Dimension has been trading since 1984 and generated a turnover of £22m employing 58 staff according to its latest full accounts for the year to September 30 2017.
It ran into trouble due to challenging conditions in the retail, dining and wider hospitality and leisure sectors which reduced the amount of work available to the business from its traditional customer base.
Blair Nimmo, Joint Administrator and UK Head of Restructuring at KPMG, said: “We are delighted to have been able to successfully conclude a sale which protects skilled jobs in the construction sector and preserves a market leading brand.
“The strength of the brand and its future order-book will give the new owners a fantastic footing from which to develop the business further. I wish them every success for the future.”
Barrochan Limited will become part of the CGC group, a privately-owned construction, refurbishment and maintenance main contractor.
Leo Reilly, Chief Executive of CGC, said: “We are delighted to have successfully concluded the purchase of Dimension Shopfitting.
“The addition of this business to our Group undoubtedly enhances the portfolio of services which CGC offers.”