Polaris to sell Indian Motorcycle division to private equity firm based in Los Angeles
MEDINA, Minn. (KVRR) — Medina, Minnesota based Polaris is selling off its Indian Motorcycle brand to a company in California.
The company announced its decision to separate the motorcycle division into a standalone business.
They have entered into a definitive agreement to sell a majority stake in Indian Motorcycle to Carolwood LP, an independent private equity firm founded in 2014 and headquartered in Los Angeles.
Indian Motorcycle contributed approximately $478 million, or 7% of Polaris’ revenues for the trailing twelve-month period ended June 30, 2025.
The bikes are currently produced in Spirit Lake, Iowa and Monticello, Minnesota.
The sale is expected to close in the first quarter of 2026.
“Polaris and Indian Motorcycle both stand to benefit from this deal, which will enable each business to move faster, deliver industry-leading innovation, and lean further into our respective market strengths,” said Polaris Chief Executive Officer Mike Speetzen. “For Polaris, the sale will further strengthen our focus on the areas of our portfolio that offer the strongest growth potential and allow us to accelerate investments in key initiatives and create wins with customers and dealers. It also will unlock greater long-term value for Polaris and our shareholders, with immediate value creation that we expect will become increasingly meaningful over time.”
Additional terms of the deal were not disclosed.
Polaris was started by co-founders Edgar Hetteen, his younger brother Allan and his close friend David Johnson with the forerunner of Polaris—Hetteen Hoist & Derrick—in 1945 in Roseau, Minnesota.
