Clyde Blowers Capital was selected as the preferred bidder for Ferguson Shipbuilders, writes BBC.
Earlier this month, the shipyard announced its closure while sending home 70 workers.
The company will now upgrade the facility and turn to renewables in order to create up to 120 jobs.
Clyde Blowers Capital founder and chairman, Jim McColl, said to BBC: “The yard obviously needs quite a bit of investment in it.
“We do plan to invest, upgrade facilities there, and then to look at further work for the yard.
“This could be perhaps another ferry, but looking at maybe doing some oil and gas work or some other fabrication work.
“We’re also involved in renewables and I think there may be some work in that area in the future as well.”
The acquisition of Ferguson Shipbuilders, originally formed in 1902, is expected to be completed within the next two weeks.