Both were said to be in a “serious but stable” condition.
The shootings took place in broad daylight and shocked the local community.
A source said a weapon and ski masks were found in bushes near the scene of the attack in Hamilton.
The source added: “After the shooting, they wrapped up the gun in the ski masks and hid it. Local children saw where they left the gun and led police to it.” Police had earlier reassured the public, saying those injured were the ‘intended victims’. A report will be submitted to the procurator fiscal and the man is expected to appear at Hamilton Sheriff Court on Monday.