Greg Mirams, who founded the company in 1992, has together with some private investors bought the company back, three years after selling it and then running the business for the publicly listed rural servicing company.
The price has not been revealed.
It follows news last week PGG Wrightson (PGGW) has agreed to sell its 11.5% stake in New Zealand Farming Systems Uruguay (NZFSU) to Singapore-based Olam International for 55c a share.
Olam has now launched a takeover bid for NZFSU in a deal worth $110 million, but requires more than 50% acceptance of its offer.
Mr Mirams said Fecpak International, renamed Techion Group, would continue to supply products to PGGW stores, and he was still actively involved in several projects with PGGW.
A spokesman for PGGW confirmed the sale was effective from July 1, and followed an operational review of its business.
He said the company strategy was to focus on its core business, with particular emphasis on strengthening the service-delivery model.
PGGW has recently changed its structure and put its business into two divisions - Agritech and Agriservices.
Craigs Investment Partners broker Peter McIntyre said while he accepted PGGW had been restructured, there was also some urgency to reduce debt which had built after a period of rapid growth since 2006, and the two sales were part of that.
At the end of the 2008-09 financial year debt stood at $409 million, but Craigs was forecasting debt at the end of this financial year at $127 million.
"They had a lot of good ideas, but ultimately they need to get debt back to ratios set out by their bankers."
Fecpak was formed to commercialise technology developed by Mr Mirams allowing farmers to use special kits to measure the level of internal parasites in their livestock.
From those measures they can determine when to treat their animals or if the chemicals they are using are effective.
Since then, he has added versions for use on cattle, deer, goats and other domesticated animals, and sells them worldwide.
He also provides services that allow farmers to test the effectiveness of chemicals on livestock parasites, a genetic test to determine the nature of resistance in animals and a test pack to test for the presence of facial eczema.
Mr Mirams said he planned to take the business a step further with Fecpak kits and services being part of the business of what will now be known as Techion Group.
He said the new company would work with various rural suppliers and experts to provide technology to farmers.
"For years I have watched many technology products come and go, promise much but not perform on-farm. This is often not the fault of the technology itself, but is more about the management knowledge and support required to get it to deliver effectively," he said.
PGGW Finance was yesterday forced to adjourn a shareholders' meeting called to approve extending a $100 million NZDX-secured bond issue for another year because it did not get a quorum of at least 50.1% of bondholders.
A new meeting will be held on August 12.
