Polaris completes divestment as the 125-year-old brand becomes a standalone company again
Indian Motorcycle has officially become a standalone company following the completion of its sale from Polaris to private equity firm Carolwood LP, marking a major structural shift for America’s oldest motorcycle brand.
The deal, announced on February 2, confirms that Carolwood has closed its agreement with Polaris to acquire the Indian Motorcycle business. The transaction establishes Indian Motorcycle as an independent, motorcycle-only company as it enters its 125th anniversary year in 2026.
The newly formed Indian Motorcycle Company will be led by CEO Mike Kennedy, a veteran of the motorcycle industry. Kennedy said the milestone year provides both a moment of reflection and a foundation for the company’s future direction.
“It’s an incredible honor to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team,” said Kennedy. “2026 will be a special year to honor our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”
According to the company, the new ownership structure will allow Indian Motorcycle to concentrate investment on product development, rider experience and dealer support. Kennedy said the strategy centres on reinforcing brand differentiation and aligning future products with Indian’s heritage.
“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation,” he said.
Indian Motorcycle said its global dealer network will remain central to its operations under the new structure, with a focus on collaboration and transparency.
“Dealers are our most important partners, and we will judge our business based on the success of our dealers,” said Kennedy. “We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing.”
As part of the acquisition, approximately 900 employees will transition into the new Indian Motorcycle Company, while it has been reported that up to 200 jobs will be cut as a result of Polaris closing the western Wisconsin Plant. Manufacturing will continue at existing facilities in Spirit Lake, Iowa, and Monticello, Minnesota, while industrial design and research and development operations will remain based in Burgdorf, Switzerland, and Wyoming, Minnesota.
The company said sales, service and dealer support will continue without interruption during the transition.
Kennedy also emphasised the brand’s manufacturing footprint in the United States.
“America’s first motorcycle company will put America first,” said Kennedy. “Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it.”
Founded in 1901, Indian Motorcycle is recognised as one of America’s longest-standing motorcycle manufacturers. The company said the new ownership under Carolwood LP represents the next chapter in its history as it operates independently for the first time in its modern era.
