Polaris Sells Indian Motorbike to Non-public Fairness Agency

Polaris, which acquired Indian Motorbike in 2011, has now entered into an settlement to promote a majority stake within the iconic American motorbike model to Carolwood LP, a personal fairness agency. The deal is anticipated to shut within the first quarter of 2026. Additionally included on this announcement is information about new management, together with Indian’s new CEO Mike Kennedy.

Whereas Carolwood will take over the enterprise, Polaris will preserve a small fairness place in Indian. The vast majority of Indian’s crew might be retained below the brand new deal, together with 900 staff.

“Polaris and Indian Motorbike each stand to learn from this deal, which can allow every enterprise to maneuver sooner, ship industry-leading innovation, and lean additional into our respective market strengths,” stated Polaris Chief Government Officer Mike Speetzen. “For Polaris, the sale will additional strengthen our concentrate on the areas of our portfolio that supply the strongest development potential and permit us to speed up investments in key initiatives and create wins with prospects and sellers. It additionally will unlock larger long-term worth for Polaris and our shareholders, with quick worth creation that we count on will turn into more and more significant over time.”

A part of this deal contains transitioning about 900 staff to the brand new Indian Motorbike. Indian will retain crew members together with engineers, designers, and workers, in addition to manufacturing sources. Indian’s manufacturing services in Spirit Lake, Iowa, and Monticello, Minnesota, will transition to the brand new firm, in addition to the commercial design and know-how middle in Burgdorf, Switzerland. Polaris states that Indian Motorbike will proceed offering gross sales, service , and assist for sellers and prospects by means of the transition.

Taking on as CEO of the brand new Indian Motorbike firm is Carolwood-selected Mike Kennedy, who enters the place with greater than 30 years of expertise within the motorbike {industry}. He’s served as CEO of RumbleOn and Vance & Hines, and he spent 26 years in varied positions at Harley-Davidson, together with as vice chairman and managing director of Americas.

Upon the closing of this deal, Mike Dougherty, Polaris president of on highway and worldwide, will retire after a 28-year profession with Polaris. Till then, he intends to remain on till the deal is completed to assist through the transition.

Carolwood was based in 2014 and relies in Los Angeles, California. It’s a personal fairness agency with the target “to amass a various portfolio of property with long-term development alternatives.”

“Indian Motorbike is an iconic model constructed on American heritage, craftsmanship, and most significantly, a group of riders,” stated Andrew Shanfeld, principal at Carolwood. “We’re honored to assist usher in its subsequent chapter as an impartial firm and to assist its continued development as an emblem of efficiency and satisfaction. At Carolwood, we goal iconic manufacturers that we are able to passionately influence. Indian Motorbike permits us to just do that.”

Further particulars concerning the transition might be offered when Polaris publishes its third quarter 2025 outcomes, which is anticipated on Tuesday, Oct. 28. Keep tuned for more information.