He said while the business employed "at least 10" staff before liquidation, it would now be run by a stripped-down staff of just four.
"The reality of the situation is that we're buying a company at its lowest point in the annual cycle as it's a seasonal business.
"We're hoping that some of the employees of EnergySmart we can attract back into the business when business picks up in March."
In September EnergySmart went into liquidation owing millions of dollars to a large number of unsecured creditors, including several Wairarapa contractors and suppliers.
One of those creditors, David Bertram, of Wairarapa Heating and Tiling, said he had been under the impression EnergySmart was guaranteed. "We thought it was a government-backed scheme through EECA, so we probably wouldn't have operated the way we did had we known that."
He would not say how much his company was owed, but said it was a "significant amount".
"We're not as badly off as some - there's some people that have been taken for huge figures - but we're talking big-ticket items here.
"We're going to have to go back and enforce our policy to work with domestic clients only."
Mr Gallagher said he understood the position of those suppliers who had lost money, as Terra Lana had lost more than $500,000 during the liquidation process.
"We're hurting as much as anybody and we certainly have an appreciation of what they're going through."
The website of Wellington liquidator Shephard and Dunphy states that EnergySmart began trading in 1997 and was an authorised EECA provider, receiving approximately 10 per cent of its work.
