Indian Motorcycle Is Now Majority-Owned by Carolwood: What Owners Should Know

Indian Motorcycle has been under new control since early this year, and if you own one or are shopping for one, it's worth knowing who's in charge. On February 2, 2026, Polaris said it had completed the separation of Indian Motorcycle into a standalone company and the sale of a majority stake to Carolwood LP, a Los Angeles private-equity firm.

Indian's own announcement the same day named Mike Kennedy as CEO and said sales, service and support for dealers and customers would continue under the new ownership.

The short version

• What happened: Polaris spun off Indian Motorcycle and sold a majority stake to Carolwood LP.
• When: completed February 2, 2026.
• Who runs it: Mike Kennedy, named CEO in Indian's February announcement.
• People and plants: about 900 employees moved to the standalone company, according to Indian, with manufacturing in Spirit Lake, Iowa and Monticello, Minnesota.
• Owners: Indian said sales, service and support would "continue seamlessly."
• Not disclosed: the price, and how much of Indian Polaris still owns.

Who Carolwood is

Polaris describes Carolwood LP as an independent private-equity firm founded in 2014 and based in Los Angeles. Polaris didn't disclose the deal's financial terms or the size of any stake it kept, saying only that Carolwood bought a majority.

For Polaris, the logic was focus. CEO Mike Speetzen said separating Indian lets Polaris "sharpen our strategic and operating focus on our core growth businesses, while driving immediate value creation for shareholders." Polaris continues to make off-road vehicles, snowmobiles and boats.

What Indian says changes, and what doesn't

Indian's February 2 announcement laid out the plan for the standalone company:

• CEO: Mike Kennedy
• Workforce: about 900 employees transitioning from Polaris
• Manufacturing: Spirit Lake, Iowa, and Monticello, Minnesota
• Research and development: Wyoming, Minnesota, and Burgdorf, Switzerland

On customers, the company said: "Sales, service and support for Indian Motorcycle dealers and customers will continue seamlessly under new ownership and leadership."

Kennedy also put dealers at the center: "Dealers are our most important partners, and we will judge our business based on the success of our dealers." And he leaned on U.S. production: "Built in America is not a slogan. It's a competitive advantage."

These were statements of plans and intent in February. They're not a guarantee of how any specific warranty or service visit goes today.

What it means if you own an Indian

Neither announcement mentions any change to existing warranties. Still, a few things are worth doing:

1. Keep your paperwork together. Bill of sale, warranty registration and service records make any future warranty question easier.
2. Check recalls by VIN. Use NHTSA's recall lookup, which works no matter who owns the brand.
3. Ask your dealer directly if you have an open warranty or extended-service contract question. They deal with Indian's current processes every day.
4. Watch for official notices. Any change to warranty administration should come from Indian in writing.

What it means if you're shopping

For buyers, the practical question is support over the life of the bike. Indian's February commitments cover dealers, service and parts, and its plants and R&D sites stayed in place under the plan. If long-term support matters to you, ask the dealer how parts availability and warranty claims have gone since the change.

Your insurance doesn't depend on who owns the manufacturer. Rates are based on the bike, your record, location and coverage.

What we don't know

• The sale price and Polaris's remaining stake, if any
• Current headcount and plant operations beyond February's plan
• Future product plans under Carolwood

Bottom line

Since February 2, 2026, Indian Motorcycle has been a standalone company majority-owned by Carolwood LP, with Mike Kennedy as CEO and its U.S. plants in Iowa and Minnesota. Indian said sales, service and support would continue without interruption. Terms of the deal weren't disclosed.