Two of the three BiFab yards have been acquired by Infrastrata which owns the Belfast ship repair and offshore construction company Harland & Wolff and the Devon yard Appledore.
An £850,000 deal has been struck for the Methil and Arnish yards, but not the Burntisland facility.
The new owner will take on 29 remaining employees.
BiFab went into administration after failing to pick up work on a new offshore facility.
The new owner is paying £650,000 in cash for the assets with a further deferred consideration of up to £200,000 in cash, subject to achievement of future revenues targets.
John Wood, CEO of InfraStrata, said: “With this acquisition, we now have a footprint in Scotland, which is the hotbed for major wind farm projects as well as for shipbuilding programmes. We have now positioned ourselves strategically across the UK, with four sites capable of servicing our five core markets. This acquisition gives us the flexibility to optimise our operations across the Group and offer our clients the ability to fabricate faster and de-risk their exposure by offering multiple sites. As we move into larger contracts, it is crucial that we demonstrate the capacity to bid for and deliver on these projects.”