Polaris announced it has completed the separation of Indian Motorcycle into a standalone business and finalized the sale of a majority stake in the brand to Carolwood LP, an independent private equity firm founded in 2014 and headquartered in Los Angeles.
The transaction marks the final step in a process Polaris previously announced: restructuring Indian Motorcycle as an independent operating entity rather than a brand housed within the broader Polaris organization. With the separation complete and Carolwood now holding a controlling interest, Indian Motorcycle will operate as an independent business, while Polaris shifts its attention and resources more tightly toward the segments of its portfolio it views as core growth drivers.
Polaris positioned the deal as a strategic refocus to simplify its operating model and focus leadership bandwidth on the broader set of businesses that make up its global powersports platform. Those include off-road vehicles, snowmobiles, boats, military and commercial transportation vehicles, and a large parts, garments, and accessories business. The company said the realignment is also intended to create near-term value for shareholders, reflecting a broader emphasis on portfolio optimization and capital allocation.
For Indian Motorcycle, the creation of a standalone structure under a new majority owner represents a shift in governance and strategic oversight. While the financial terms of the sale were not disclosed in the announcement, Polaris described the outcome as favorable for all parties, presenting it as a pathway for Indian Motorcycle to pursue its own priorities as an independent business while allowing Polaris to streamline its corporate focus.
Support: Polaris said Goldman Sachs served as its financial advisor on the transaction, and Paul, Weiss, Rifkind, Wharton & Garrison served as its legal advisor.
KEY QUOTES
“The successful completion of this transaction is a great outcome for all. Separating Indian Motorcycle enables Polaris to sharpen our strategic and operating focus on our core growth businesses, while driving immediate value creation for shareholders.”
Mike Speetzen, Chief Executive Officer, Polaris
