The company is funded by Consumer Capital Partners and presents a healthy burger and fast food concept, appealing to those who want to watch waistlines without sacrificing their favorite foods.

This is inspiring news for entrepreneurs, as Smashguys will open 16 new locations, potentially around the central Iowa area.

Scott Crane, Smashburger president, expressed his satisfaction at the completed deal.

"Smashburger is a proven concept and well on its way to becoming the region's favorite burger place. Smashguys shares our vision, and we’re thrilled to have them on board," he said.

The unique restaurant name came from the method by which the burgers are created, for a ball of beef is literally smashed onto the grill in order to retain a hearty flavor.

Originating in Denver, Colorado, Smashburger aims to continue expanding across the Midwest, opening more than 200 locations in the next five years.