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 125th 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 125th 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.
Interesting 125 years I think not! 1901 to 1954 then it was extinct until 2000 in gilroy California those bikes were a joke broke down alot. Then Polaris built the victory which went away and came back as Indian. Keep it straight
The brand is 125 years old and it has been alive in the hearts and mind of the people who love the brand. The people running the company know this and have say such. Now, the brand can flourish under people that care about the brand, the heritage and products.
If you don’t like the brand or product, don’t buy them. Just like I don’t purchase Harley Davidson products.
Alive in hearts? Ya that means it was dead and still is. You’re not fooling anyone! You can ride whatever you want but Indian died in 1954. The name was brought back. Indian is a victory with a different badge.
Extinct is probably not the best term as there were several entities that obtained the rights to the Indian brand and sold various motorcycles under the name Indian between 1954 and 2011 when Polaris obtained the name brand.
Private equity means other people’s money/time horizon = profit in 3-5 years or sell off equitable assets.
I also am laughing at 125 years. Harley-Davidson is the oldest longest living motorcycle company and builds bikes better than the piecemeal Indian ever will be. What a joke.
Stop being a sissy. Lol
I’m laughing at “Builds bikes better”
Maybe better at inflating purchase prices.
Actually, Royal Enfield is 3 years older than Harley-Davidson. Their Indian factory continued to churn out Bullets after the Redditch HQ closed. They never ceased production.
Get your facts straight Aaron, Triumph, Indian, as well as Norton and Royal Enfield have been in business longer than HD. Not by much but incorporated prior to HD being established.
Harley Davidson is the oldest American motorcycle manufacturer. Indian can’t claim it. They stop producing in 1954.
Venture capitalist will run the company into the ground. Greedy power mongers.dont care about the motorcycle. It could be toilet paper for all they care, they just want money.
If I were Indian, I would have a three-year factory warranty instead of a two year and I’d make that bike look so sharp and so well built that jaws would drop and mouth with water to be able to own an Indian motorcycle Harley would be competing with Indian not Indian competing with Harley. Harley would have to build a better bike and it don’t seem like they want to build it here in the United States that Indian will be the greatest motorcycle ever.
And do it all in 1 sentence!
An engine in a frame with a sticker doesn’t mean it’s and Indian. I saw quite a few variations like this. Reminded me of a H.D. knockoff labeled Indian. What a shame to include this as a continuation of an original product.
Why are you so afraid of Indian? Lmao
oh stop… a hedge fund has ZERO interest in keeping Indian alive… they will sell it off piece by piece.. bet me ?
Since some commenters are using “hedge funds,” “venture capitalists “ and “private equity groups,” interchangeably, here are how they are different:
Venture capital funds invest in early-stage, high-growth startups, taking equity and aiming for large returns when these companies succeed. There’s a high failure rate among these startups and VC’s hope to offset that with “unicorns” that go from startup to $1B+ valuations.
Private equity groups buy more mature companies, often improving them operationally before selling—sometimes in a few years, sometimes over longer horizons. A much higher number of these companies succeed vs VC-backed firms.
Hedge funds, on the other hand, actively trade in a wide variety of financial instruments—stocks, bonds, derivatives—with the goal of maximizing returns, often over shorter horizons. So, while hedge funds are very trading-focused, venture and private equity invest more in companies directly—just at different stages.
Carolwood LP (who bought Indian) has a reputation for buying and holding companies – not flipping them. Who knows if they’ll succeed, but they look to be in it for the long term and I love their statements in this article.
The current Indian ownership continues to loose credibility for me in 3 ways. The NAME Indian as a brand is 125 years old. But that is all they have in common with the original company. No physical, leadership or financial ties. Polaris reused the name, because adding a historical legacy to the bikes they made sold better. Every major motorcycle brand uses heritage or nostalgia to various degrees to perpetuate bike sales. The other claim I have a problem with is being the first American motorcycle company. Orient-Aster was first in 1898. I have a hard time trusting a company that so blatantly exaggerates where they came from. I can see them honoring the Indian brands great legacy, but to claim it as their own makes it hard for me to trust them now. One more problem I have is not being open about sales and profit data. How many riders would have purchased a Victory if they new they lost money most of their last 5 years? Same with Indian, let us see your numbers like Harley does.
Harley and Polaris are public companies. By law, they have to disclose performance for any subsidiary constitution 10% or more in sales, profits or assets.
Private companies don’t face these disclosure requirements and consider it sensitive, competitive information. So, they don’t disclose
It.
Polaris abandoned its Victory owners and now its Indian owners but these new guys are going to be the ones that really care about you right? At least Victory was an authentic brand, my Suzuki is more authentic than Indian will ever be and it works every single time I need it just like the one before and the one before that. If I want cheesy I’ll buy some chips not a failed Polaris with an Indian sticker on the tank.
I know one area where Indian excels. Designing bikes in a way to make it difficult for the aftermarket to develop accessories for and charging outrageous amounts for Indian accessories.
Indian needs to make a cruiser with more than 3 inches of rear travel. Then I can take them seriously. Too bad the FTR was big and heavy. That could have been a game changer if it was lighter.
I really don’t see the point with the “Indian” brand …posing for something it is not….
If you want a cruiser, buy a Harley, Honda or Kawasaki . Now that’s a long line of 3 truly historic motorcycle manufacturers that have forgotten more about motorcycle building than Indian will ever know…
Founded in 2014, Carolwood is essentially located in LA. They have invested in 7 or 8 companies so far. One item lists them as specializing in “distressed companies”. I believe it depends on whether Indian can be made profitable (if it isn’t already) if it will continue or be broken up and sold off to perhaps a Chinese company like CFMoto.
The comments are the Joke here. It’s just this kind of need a bandanna-wallet chain-railroad boots bickering brand “loyalty” and bull that divides bikers. If the badge on the tank defines you, you might as well spray paint it on a pickup, drive that, and leave the riding to real bikers.