Indian Motorcycle sold to private equity firm

In a significant restructuring move, Polaris has announced the sale of a majority stake in Indian Motorcycle to private equity firm Carolwood LP, with the American motorcycle marque set to operate as an independent company from early 2026.

The transaction will see Indian Motorcycle transition from being part of the Polaris portfolio to a standalone entity, fourteen years after the powersports giant acquired and revived the historic brand in 2011.

Under the agreement, approximately 900 employees will transfer to the new Indian Motorcycle Company when the deal closes in early 2026. The sale includes manufacturing facilities in Spirit Lake, Iowa and Monticello, Minnesota, as well as the brand’s industrial design and technology center in Burgdorf, Switzerland.

Polaris will retain a minority equity position in the standalone company, signaling confidence in the brand’s future despite the decision to divest majority control.

The company has confirmed that operations will continue unchanged until the deal completion. Customer warranties will remain valid and unaffected throughout and after the transition period.

The brand will continue operating as part of Polaris until the transaction is finalized in early 2026.

Since acquiring Indian Motorcycle in 2011, Polaris has overseen a remarkable resurrection of America’s first motorcycle brand. The parent company invested heavily in new model development, expanded the dealer network, and pushed the brand into new market segments with models like the FTR and Scout platforms.

However, the decision to sell suggests Polaris is refocusing its business strategy, potentially to concentrate on its core brands and product categories.

Spencer Leech

Spencer has a keen eye for hard news, and does some of his best living on deadline day. He loves more than anything to travel on his motorcycle, and is adamant that Melbourne Bitter is a world-class lager. He also knows how to operate the big computery thing in the office. By night, Spencer plays guitar with Melbourne punk outfit LOUTS.

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