Consolidation of heritage compliance firms in the United States continues as more and more owner/operators seek retirement and firms struggle to gain market share. Today, the largest heritage-only firms only hold approximately 1-1.5 percent of market share of the compliance sector, now at $928 million annually and forecast to grow to $1.25 billion by 2020. Yesterday, Heritage Business Journal (HBJ) received this press release from ASM Affiliates and Rechtman Consulting announcing a new merger. Company news can be submitted to HBJ from the “Submit Press Release” page.
HILO, HAWAII – DECEMBER 3, 2013 – Rechtman Consulting has been acquired by ASM Affiliates (ASM). Going forward the company will operate as ASM Hawaii. Bob Rechtman will be leading ASM Hawaii as Managing Director for its Hawaii and Pacific operations. The transaction involved the assets of Rechtman Consulting including its existing contracts and proposals. All the current employees have joined ASM Hawaii. Henberger served as the exclusive advisor to ASM. Financial terms were not disclosed.
“Rechtman Consulting’s reputation, its book of business and Bob Rechtman’s desire to join a larger entity, thereby allowing him to focus on his work and his clients, attracted us to this opportunity,” says ASM’s COO Bill Graham, who spearheaded the initiative. “To better serve our existing clients we had been looking for a while to expand our geographic footprint to Hawaii and the Pacific. The addition of Bob Rechtman and his team will allow us to accelerate our ability to meet the needs of our clients,” added John Cook, CEO of ASM.
“I am excited about the opportunities this acquisition provides to me and my employees,” says Bob Rechtman, Managing Director ASM Hawaii. “The cultural resource management industry today requires marketing and financial resources that, as a small operator, Rechtman Consulting was no longer able to afford on its own. I believe that ASM’s values and mine are closely aligned. Together we will be able to better serve our existing clients and expand into new markets that we were previously not able to enter.”
Many of you who read Heritage Business Journal (HBJ) know that this blog has taken a bit of a hiatus. This is due to my appointment as Editor of the Society for American Archaeology’s new journal entitled Advances in Archaeological Practice: A Journal of the Society for American Archaeology. This volunteer position is quite time consuming and has superseded, at least for a while, other professional activities to which I volunteer my time, such as coordinating HBJ. That said, Heritage Business Journal is always looking for new contributors from around the world and I’ll always find the time to see that the work of HBJ contributors, current or new, gets published.
Please note, though, that Advances in Archaeological Practice is one of the few places where you can publish peer-reviewed work on the business of heritage. Not only am I encouraging you to read this new journal, I’m encouraging you to contribute manuscripts on business topics! At least through 2016, when my term ends, you know that the journal has an editor that is passionate about heritage business topics. The first two issues (August and November 2013) are free and can be read here. Beginning in 2014, the journal will be for paid subscribers or included as a part of membership in the Society for American Archaeology.
If you are interested in contributing a business article to this exciting new journal, please refer to the Instructions for Authors. If you have questions or want to discuss an idea, please feel free to contact me at email@example.com.
A new, 11 October 2012, blog post by Jenna Goudreau of Forbes staff using data from the Center on Education and the Workforce at Georgetown University reports that anthropology and archaeology top the list of the worse college majors in economic terms.
Topping the list at No. 1, anthropology and archeology represent the worst choice of college major in economic terms. Recent college graduates of the major, those ages 22 to 26, can expect an unemployment rate of 10.5%, well above the national average. When they do land a job, the median salary is just $28,000, compared to a mechanical engineer’s initial earnings of $58,000.