What You Need to Know: Indian Motorcycle Sold to Private Equity
It’s official. Polaris has sold a majority stake in Indian Motorcycle to Carolwood LP, a Los Angeles-based private equity firm. And while the press releases are full of buzzwords like “growth” and “heritage,” we’re calling it straight: this is a loss for the riding community.
From Revival to Revenue
Polaris bought Indian in 2011 and did what many thought impossible—they brought the century-old brand roaring back to life. From the Scout to the Challenger, Indian became a real rival to Harley-Davidson, blending classic Americana with modern engineering. Riders responded. The brand grew. The culture thrived.
But now, Polaris is walking away. Despite Indian generating nearly $478 million last year, it wasn’t profitable enough for Wall Street. So they sold it off to a firm that doesn’t build bikes—it builds balance sheets.
Meet the New Owners: Carolwood LP: Riders, Meet Your New Landlord
Carolwood LP isn’t a motorcycle company. It’s a private equity firm. Their business isn’t about the ride—it’s about the return. They’ve tapped Mike Kennedy, a veteran of Harley-Davidson and RumbleOn, as CEO. Sure, he knows the industry. But this move feels more like financial engineering than passion for the open road.
Private equity firms are known for cutting costs, streamlining operations, and chasing short-term gains. That might work for tech startups or retail chains—but motorcycles aren’t just products. They’re culture. They’re community. They’re us.
I believe motorcycles are more than machines. They’re stories, diners, roadside repairs, and community rides. Indian was part of that story—a brand reborn through grit and rider loyalty. Now it’s in the hands of suits who probably think a Scout is just another SKU.
My Take: What This Means for Riders …. Not Good
Carolwood says they’ll preserve Indian’s heritage and keep the Spirit Lake and Monticello factories running. They promise no disruption to dealers or customers. But promises are cheap. What happens when profits dip? Will they outsource manufacturing? Slash R&D? Gut the design team?
We are losing a legacy.
What do you think?
I JUST WANT 2 RIDE!! 