Polaris Spins Off Indian Motorcycle, Kennedy Named CEO
Polaris Inc. announced its decision to separate Indian Motorcycle from its portfolio and into a standalone business.
The Company has entered into a definitive agreement to sell a majority stake in Indian Motorcycle to Carolwood LP, a private equity firm.
- Indian Motorcycle contributed approximately $478 million, or 7.0%, of Polaris’ revenues for the trailing twelve-month period.
- The transaction is expected to be accretive to Polaris’ annualized adjusted EBITDA by approximately $50 million.
- It is also expected to increase adjusted earnings per share by approximately $1.00.
Author's summary: Polaris spins off Indian Motorcycle into a standalone business.