Polaris Dumps Indian Motorcycles In Shock Sale

Indian Motorcycle is riding solo again.

The Made in USA bike brand that was rebooted by the Polaris powersports company in 2013 is being sold to the Carolwood LP private equity firm, the company announced on Monday.

The brand will be setup as a standalone company that will retain the “majority” of the current staff and its manufacturing facilities in Spirit Lake, Iowa, and Monticello, Minn. along with an industrial design and tech center in Switzerland.

“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,” Polaris Chief Executive Officer Mike Speetzen said in a news release.

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“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.”

Indian sold approximately 25,000 motorcycles in 2024 and generated $478 million in sales over the 12 months ending this past June. Its most direct competitor, Harley-Davidson, delivered 148,000 bikes globally last year.

Former Harley-Davidson executive and Vance & Hines CEO Mike Kennedy has been named CEO of the new company and will oversee the transition as the deal clears.

Future product plans were not detailed, but Polaris stock has been rising since the deal was announced.