Ride CT & Ride New England Serving New England, NYC and The Hudson Valley!
MINNEAPOLIS, MN – In a shocker of an announcement today, Polaris Inc. said it’s getting rid of Indian. It plans to separate Indian Motorcycle into a standalone business and will sell a majority stake to the private equity firm Carolwood LP.
The transaction is expected to close in the first quarter of 2026. Carolwood was founded in 2014 and is based in Los Angeles. Polaris will retain a small equity position in Indian.
“Polaris and Indian Motorcycle both stand to benefit from this deal, which will enable each business to move faster, deliver industry-leading innovation, and lean further into our respective market strengths,” said Polaris Chief Executive Officer Mike Speetzen.
In shedding itself of Indian, Polaris is divesting itself of a division that only contributed $478 million, or seven percent, of Polaris’ revenues for the 12-month period that ended June 30, 2025.
Polaris purchased the Indian brand name in 2011 and introduced its first line of motorcycles in 2013. The company was already involved in motorcycles having launched the Victory brand in 1998 but closed it in January 2017.
“Indian Motorcycle is an iconic brand built on American heritage, craftsmanship, and most importantly, a community of riders,” said Carolwood principal Andrew Shanfeld. “We’re honored to help usher in its next chapter as an independent company and to support its continued growth as a symbol of performance and pride. At Carolwood, we target iconic brands that we can passionately impact. Indian Motorcycle allows us to do just that.”
The press release announcing the deal stated that “approximately 900 employees will transition as a part of the new Indian Motorcycle Company. Indian Motorcycle will retain the majority of its team, including engineers, designers and staff, along with manufacturing resources. Manufacturing facilities in Spirit Lake, Iowa, and Monticello, Minn., as well as the industrial design and technology center in Burgdorf, Switzerland, will transition to the new standalone motorcycle company as a part of the deal.”
Until the deal is completed, Indian Motorcycle will continue to provide sales, service and support for dealers and customers.
(Photos courtesy of Indian Motorcycle.)
