Fresno's Wathern Castanos buys Mangano Homes

Source: The Business Journal

Fresno builder Wathen Castanos Hybrid Homes plans to blend its style of energy-efficient home construction into the style elements of Mangano Homes, a family-owned company that Wathen Castanos recently purchased. Mangano Homes is a builder in San Luis Obispo and Visalia. It’s been in operation for more than four decades. The sale closed Feb. 28. Peter Castanos, director of sales and marketing for Wathen Castanos, said Mangano Homes would retain its present employees under the new ownership. The deal, in the works for about seven months, will allow Wathen Castanos to expand its operations on the Central Coast while providing time for Andy Mangano, president of Mangano Homes to work on long-range project development, Castanos said. Castanos said his company is excited about entering the San Luis Obispo home market. He said Mangano Homes has expertise in purchasing and developing land in the high-demand central coastal area. Castanos added that Mangano has a similar value system to his company. “They have an eye for design and a concern for people,” Castanos said. He said both companies will learn from each other. “It will be a blending of ideas,” Castanos said. “They know how to scout and come up with good locations for development. And they put deals together.” Wathen Castanos is known for combining style with upgraded energy-saving elements like improved insulation, a radiant barrier roof and tankless waster heaters. The company currently has new home developments in Hanford, Paso Robles, Lemoore, Visalia and Clovis.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/11035-fresno-s-wathern-castanos-buys-mangano-homes 

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