Ivor Jenkins replaces Dilwyn Jones as chairman.
The consortium consists of new president Gordon Craig, finance director Andy Ewing, commercial director James Lees with Andy Haslam a director and club accountant.
"I'm honoured to become chairman of such a big name in Welsh football," Jenkins said.
"Our ultimate aim is to challenge the leading clubs over the coming seasons for the Welsh Premier League title and Uefa Champions League football."
Bangor have won the Welsh Premier League title three times and are eight time winners of the Welsh Cup.
Welsh Premier League club Bangor City has been taken over by a Cheshire based consortium.