Ownership of American motorcycle manufacturer Indian Motorcycles has changed hands. This follows the sale of a majority stake in Indian Motorcycle by current owners Polaris to real estate and private equity firm Carolwood.
Indian Motorcycle will continue to operate as part of Polaris until the deal closes, which is expected to occur in early 2026. Indian’s manufacturing facilities in Spirit Lake, Iowa and Monticello, Minnesota will transition to the new standalone motorcycle company as part of the deal.
Meanwhile, Indian Motorcycle’s industrial design and technology center in Burgdorf, Switzerland, will also transition to the new company after the deal is completed, with Polaris retaining a small equity stake. Carolwood has appointed industry veteran Mike Kennedy as CEO of the new Indian Motorcycle Company.
Kennedy has more than 30 years of leadership experience, including leadership roles at Harley-Davidson, Vance & Hines and most recently RumbleOn, the nation’s largest powersports dealer network. Polaris has owned Indian Motorcycle since 2011, and the brand debuted in Malaysia that same year under former Indian Motorcycle distributor Naza.
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