Smashburger, a fast casual 'better burger' concept recently launched by private equity and concept development firm Consumer Capital Partners (CCP), today announced the appointment of Ryan McMonagle as Chief Financial Officer (CFO). McMonagle's appointment further positions Smashburger for aggressive national expansion and complements the recent hire of Smashburger President, Scott Crane. Crane and McMonagle will provide the foundation of the executive management team and will build out the Smashburger leadership infrastructure in the near term to support the development of approximately 30-60 new Smashburger units across the country in the next twelve months.
'Ryan makes a tremendous addition to an already strong leadership team put together by Scott Crane,' said David Prokupek, Managing Partner and Chief Investment Officer of CCP. 'During his tenure with CCP, Ryan quickly became an invaluable resource and he will undoubtedly help drive significant returns on CCP's investment in Smashburger. We look forward to continuing to work with Ryan as Smashburger brings a better burger to burger lovers around the country.'
McMonagle was formerly Vice President, Private Equity at CCP, and was actively involved in the development of the Smashburger concept and the $15 million round of funding that Smashburger received from CCP. McMonagle was an integral part of the team that identified the strategic opportunity in the 'better burger' segment, which led to the formation of Smashburger. While at CCP, McMonagle also focused on restaurant and consumer investment opportunities.
'One of the keys to Smashburger's success is undoubtedly the caliber of talent we have on hand to execute on a plan that we know has significant potential,' said Scott Crane, President of Smashburger. 'To that end, there is no higher caliber than Ryan. His insight and expertise have led us to the great success we have seen already, and he has the business acumen, skills and discipline as CFO to help Smashburger grow nationally.'
Prior to CCP, McMonagle worked with Founders Equity, a New York-based private equity firm focused on the lower middle market. Prior to joining Founders, McMonagle spent three years at Bain and Company in their private equity practice working with large private equity firms on their due diligence of potential acquisition candidates. At Bain, McMonagle also worked with several clients in consumer industries, developing roll out strategies for new products and helping to improve store level profitability.
McMonagle received his MBA from Harvard Business School and received his BBA in Finance and Organization Behavior from Southern Methodist University.
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