Police launched a manhunt for him after the attack, which happened on Wednesday evening in Paldau. On Monday morning he was found hiding near a fish pond, not far from his home.
The man, who works as a carpenter, attacked the five and eight-year-old girls with a home made cudgel which had nails attached to it, as they returned home from swimming with a neighbour.
He lived near the children and was said to be friendly with them. The girls' mother and another neighbour came to their aid but were also injured.
The man was known in the neighbourhood as a loner and an eccentric. Some newspapers reported that he flew into a wild rage because the children had become friendly with another neighbour.
The younger girl needed emergency surgery after suffering serious head injuries.