The move has significantly increased Greenfingers' client base and almost doubled its turnover from £5.5m to £10m.
Greenfingers Landscape works around the country with local authorities and housing associations. The company has acquired the struggling P&W including its contracts and assets, securing 45 jobs. P&W went into liquidation in December with debts of £1.71m.
As part of the deal, Greenfingers will take over all ongoing contracts, including Oswestry Town Council, Shropshire Council, Flintshire County Council and Isle of Angelsey Council.
Greenfingers said the acquisition had come at an exciting time. The company has recently won a contract with Powys County Council to provide grounds maintenance countywide, with the contract worth between £3m and £4m over four years.
Managing director Steve Higginbottom said: "This is a very significant step for Greenfingers. The acquisition of the P&W contracts has enabled us to expand into a new geographical area and open another depot at Llandrindod Wells to service the work in addition to the Powys contract.
"This means that not only can we provide employment for the P&W staff, but we can also open up possibilities to create further employment opportunities in the area. We will be further investing in the business including the addition a complete fleet of vehicles and new landscaping equipment."
Greenfingers' client base includes many local authorities, almost 80 per cent of the housing associations in Greater Manchester as well many private sector sites. The new contract base has also meant that Greenfingers can extend their service offering to include cemetery, parks and highways maintenance as well as increasing their geographical spread to cover Shropshire and Wales.
Higginbottom added that the company had "significant further expansion plans", including tendering for additional contracts, potential plans to acquire further businesses and new job creation.