Pinkerton’s Planning Public Stock Offering

Pinkerton’s Inc., the nation’s biggest security guard company, plans to raise up to $21 million with an initial public offering of 1.3 million common shares.

In a filing with the Securities and Exchange Commission, the Van Nuys-based company said the stock is expected to sell for $14 to $16 a share. The company also registered 666,667 shares that might be sold by Pinkerton’s President Thomas W. Wathen.

Wathen, through his solely owned California Plant Protection Inc., bought Pinkerton’s from American Brands Inc. for $100 million two years ago, and named the combined company Pinkerton’s. In its SEC filing, Pinkerton’s said proceeds from the stock sale would be used for repaying the cost of the acquisition.