CPP Security Completes Acquisition of Pinkerton’s

CPP Security Service, a Van Nuys-based provider of security guards nationwide, completed its previously announced acquisition of Pinkerton’s, the nation’s oldest security firm. CPP bought the 137-year-old company from American Brands for an undisclosed price.

The purchase of Pinkerton’s last week doubled the number of CPP employees to 50,000 and is expected to lift CPP’s annual revenue from $250 million to about $650 million. The newly merged company, which will operate under the name CPP/Pinkerton, now vies with Borg-Warner’s security guard unit as the biggest player in the $6-billion security guard market.

CPP, known in California as California Plant Protection, was founded in 1947 and has been solely owned by its president, Thomas W. Wathen, since 1964.