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Polaris Sells Majority Stake in Indian Motorcycle to Carolwood

10/14/2025

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Summary

Story summary

Polaris Inc. will sell a majority stake in its Indian Motorcycle brand to Carolwood LP, a private equity firm based in Los Angeles.
The deal should close in Q1 2026.
Indian Motorcycle generated about $478 million in revenue, which equates to 7% of Polaris' total sales.
The new organization will retain about 900 employees and keep production in Spirit Lake, Iowa, and Monticello, Minnesota.
Mike Kennedy will lead the independent company.

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Story summary

Polaris Inc. will sell a majority stake in its Indian Motorcycle brand to Carolwood LP, a private equity firm based in Los Angeles.
The deal should close in Q1 2026.
Indian Motorcycle generated about $478 million in revenue, which equates to 7% of Polaris' total sales.
The new organization will retain about 900 employees and keep production in Spirit Lake, Iowa, and Monticello, Minnesota.
Mike Kennedy will lead the independent company.