MILWAUKEE — A well-known Milwaukee pizza shop is about the change owners, going from its longtime founders to become employee-owned.

Mark Gold owns Pizza Shuttle along with his business partner Louis Siecinski, and after nearly 40 years at the helm, Gold said retirement is on the horizon.

“You realize you are in your 50s and I like it, but maybe I should get out,” said Gold. “So, it takes three, four, five years to get to that point.”

In that time, Gold says he received about a half dozen offers to buy the business before settling on a unique route. Gold says they have sold a portion of the business to a New York based company called Teamshares, which specializes in helping small business owners transition businesses to employee ownership.

Gold said that initially Teamshares will give 10% of the stock to the employees, with a plan to transfer up to 80% ownership to employees in the next eight to 14 years.

“Usually if someone sells a business, they might give their employees a bonus,” explained Gold. “We were going to do that, but this is way better. The value is four, five, ten times what I would have gave them.”

One employee, Adam Kopchinski, said he is in favor of the transition to employee ownership. He has only worked at the shop a year, but says he is glad to see it will continue moving forward.

“It is a good way for them to transition out, also a good way to appreciate the employees that remain here,” said Kopchinski.

Gold said he plans to remain on staff for the next year to help with the transition before handing over day-to-day operations to his daughter.