Hilo consultancy acquired by mainland firm

Hilo-based Rechtman Consulting has been acquired by California-based ASM Affiliates, a cultural resource management company.

Terms were undisclosed.

Bob Rechtman, founder of the local company, will continue to manage the renamed ASM Hawaii, which has retained current Rechtman employees.

The acquisition enables the local office to tap into the new parent company’s marketing and financial resources and to further the two firms’ shared values in their combined practices, Rechtman said, in a statement.

The purchase enables ASM to expand into the Hawaii and broader Pacific markets,  and better-serve existing clients, said Bill Graham, ASM COO.