Polaris Inc. has announced sale of its majority stake in Indian Motorcycle division into an independent company. The major stake will be sold to Los Angeles-based private equity firm Carolwood LP. The deal is expected to close in the first quarter of 2026. At present, Indian Motorcycle currently contributes to around 7 per cent of the total revenue for Polaris, which amounted to about $478 million over the past year. On completion of the deal, Polaris will continue to hold a small ownership share but expects its annual profit margins and earnings per share.
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The decision to have Indian Motorcycle as an independent company was explained by Polaris CEO Mike Speetzen as a decision to allow both companies to focus on their strengths, Polaris on its core powersports business and Indian Motorcycle on continuing its growth as a premium motorcycle brand.
As for the operations at Indian Motorcycle, Carolwood LP has appointed Mike Kennedy as the new CEO of the company. Kennedy brings over three decades of motorcycle industry experience, having previously held senior roles at Harley-Davidson, Vance & Hines exhausts, and RumbleOn. The plan is the build on Indian Motorcycle’s strong heritage and help it thrive as an independent brand that continues to represent American performance and pride.
