In a bold restructuring move, Polaris has confirmed that Indian Motorcycle will now operate as an independent company. The American powersports giant has entered into a definitive agreement to sell a majority stake in the century-old motorcycle brand to Los Angeles-based private equity firm Carolwood LP. The deal is expected to close by the first quarter of 2026.
Indian Motorcycle, which contributed around $478 million (roughly 7% of Polaris’ annual revenue) for the year ending June 2025, will now chart its own path toward standalone growth. While Polaris will retain a minor equity share, operational control will shift entirely to Carolwood.
Polaris CEO Mike Speetzen remarked that the move allows both companies to innovate faster and focus better on their strengths. Backed by Carolwood’s investment, Indian Motorcycle is set to accelerate its presence in the premium motorcycle space.
Andrew Shanfeld, Principal at Carolwood LP, highlighted that the legendary brand deserves the independence to lead its own growth story globally.
Indian Motorcycle will continue operating from its facilities in Spirit Lake, Iowa, and Monticello, Minnesota, alongside its design hub in Burgdorf, Switzerland. Dealer operations and customer services will remain unchanged, but the shift marks a new era of autonomy and innovation for America’s oldest motorcycle brand.
