Innovaré, a partner business of The Osborne Group, is being bought by Derbyshire-based Bowmer and Kirkland as Osborne focuses on its core business.
Staff will be transferred under the TUPE regulations, maintaining their pay, terms and conditions under the new structure.
Innovaré, based in Coventry, provides offsite build solutions taking advantage of new materials, technologies, and methods of construction to increase the flexibility and energy efficiency of new buildings. It specialises in Structural Insulated Panels (SIPs).
Osborne Group chairman Andrew Osborne said: “Today’s strategic changes will ensure our core business can be successful in the years ahead. Like everyone in the construction sector, we have seen challenges in recent months but we are well placed to continue and build upon our proud track record of delivery for customers.
“Everyone at Osborne is proud of Innovaré’s growth to date and I know the company will continue to thrive under its new ownership.
“Construction is the heart of Osborne Group, the order book for 2023 is strong, and I look forward to making further announcements about new schemes and delivery of our existing projects.”
