PKF Partners and joint administrators completed the sale which included the TVR trademarks, certain vehicle stock, work-in-progress, and the manufacturing plant and equipment.
The Transport and General Workers Union reacted strongly to the news.
Andy Robertson, T&G regional industrial organiser, said: “If this means manufacturing is taken out of Blackpool, it will be a disaster for the area. It is abysmal that the previous owner, who allowed it to go into administration, is now again the owner. The Government should not allow this practice to take place.
“The workforce will be extremely angry and disappointed that he has been able to walk away unscathed after they have suffered so much.”
Smolenski’s previous plans for the business, which had employed nearly 300 workers in Blackpool, involved the transfer of manufacturing out of the UK.
The Department of Trade and Industry has paid out redundancy and notice pay for the Blackpool Automotive workers, and pensions are still being looked into.