Carolwood LP Assumes Ownership of Indian Motorcycle

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Carolwood LP Assumes Ownership of Indian Motorcycle

After 14 years under ownership by powersports conglomerate Polaris Inc., Indian Motorcycle is once again an independent company. (Photo by Kevin Wing)

In October, it was announced that Polaris Inc. would sell a majority stake in Indian Motorcycle to Carolwood LP, a private equity firm, with the deal to be finalized in the first quarter of 2026. In January, Indian held its annual dealer meeting in Los Angeles, where it unveiled the 2026 Indian Chief Vintage and hosted a party at the Petersen Automotive Museum to celebrate Indian’s 125th anniversary.

As the press release below indicates, as of Feb. 2, Carolwood LP assumed ownership control of Indian Motorcycle with industry veteran Mike Kennedy at the helm as CEO.

MINNEAPOLIS – February 2, 2026 – Indian Motorcycle, America's First Motorcycle Company, announced today that Carolwood LP has officially closed its agreement with Polaris to acquire the historic American motorcycle business. The deal's closure marks the beginning of a dynamic new era for the iconic American brand as a fully independent business focused solely on motorcycles. 

Under the leadership of new CEO and motorcycle-industry veteran, Mike Kennedy, Indian Motorcycle embarks on its next chapter as a stand-alone company, intent on building upon the brand's significant momentum and elevating it to an even higher level of global relevance and success. 2026 marks the 125^th Anniversary of Indian Motorcycle, a milestone that only increases the timeliness and significance of this historic transition.

"It's an incredible honor to take the helm of Indian Motorcycle as it celebrates its 125^th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team," said Kennedy, CEO for the Indian Motorcycle Company. "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."

Kennedy and Carolwood are committed to a long-term strategy centered on delivering an even better ownership experience for riders and stronger, more focused support for the dealer network. This means concentrating investment in the motorcycles, technologies, and experiences riders value most. Sharpening performance, elevating craftsmanship, and deepening the connection to the unmistakable character that defines Indian Motorcycle. The result is a brand that shows up with greater clarity, higher quality, and a stronger connection to the riding community. Today and for the road ahead.

"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," said Kennedy.

Indian Motorcycle's future will be built alongside its global dealer network. The company is committed to delivering the number one dealer experience in the industry – partnerships built on trust through 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." 

The finalized acquisition agreement includes approximately 900 employees that now transition to become part of the new Indian Motorcycle Company. Indian Motorcycle will base all manufacturing out of the company's existing facilities in Spirit Lake, Iowa, and Monticello, Minn., while continuing its industrial design and technology and product development out of its existing research and development centers in Burgdorf, Switzerland and Wyoming, MN. Sales, service and support for Indian Motorcycle dealers and customers will continue seamlessly under new ownership and leadership. 

"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." 

For more information regarding Indian Motorcycle products, dealers and services, visit IndianMotorcycle.com, or follow along on Facebook, X, Instagram and YouTube. For more information about Carolwood LP, visit CarolwoodLP.com.

The post Carolwood LP Assumes Ownership of Indian Motorcycle appeared first on Rider Magazine.

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