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Published May 14, 2013, 03:11 PM

Bergstrom Electric to become employee-owned

The nearly 50-year-old Grand Forks based company Bergstrom Electric is changing hands. The owner-partnership has decided to sell the multi-million dollar company to their employees.

By: David Schwab, WDAZ

The nearly 50-year-old Grand Forks based company Bergstrom Electric is changing hands. The owner-partnership has decided to sell the multi-million dollar company to their employees.

We're told employees will keep the same business plan that has been in place. And that is to keep growing. Bergstrom Electric does business nationwide but is known and recognized locally for many large projects including wiring the Alerus, The Betty and most recently the Choice Health and Fitness Center. The business was started in 1964 with just two employees today there is more than 150 employed with offices in Fargo, Bismarck, Devils Lake, Crookston and Thief River Falls. Bergstrom says employees will not actually pay out of their pockets for the company. Profits from the company will be used make the purchase.

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