Blackstone to invest in hospitality accounting software M3

• Evercore served as financial advisor to Blackstone on the deal
• Blackstone has more than $1 trillion in assets under management

Blackstone has agreed to make a majority investment in M3, a Lawrenceville, Georgia-based hospitality accounting software. No financial terms were disclosed.

M3 was founded in 1998 by John McKibbon.

On the deal, Ramzi Ramsey, a managing director at Blackstone, said in a statement, “M3 has become a leading finance and accounting software platform for countless independent and family owned hotel operators, as well as some of the largest hotel management companies, that have relied on its technology to support the professionalization and scale of their businesses.”

Carlton Fields, PA, served as legal counsel to M3 and Houlihan Lokey has provided certain assistance to M3 in connection with the transaction. Evercore served as financial advisor to Blackstone and Kirkland & Ellis LLP served as legal counsel.

Blackstone has more than $1 trillion in assets under management.