Armitage-Herschell Company of New York manufactured the Carousel in 1892. The City of Greater Geelong in conjunction with the State Government and Heritage Victoria engaged Carousel Restorations Pty Ltd of Castlemaine to undertake the physical restoration of the Carousel. 

It took more than two years of painstaking work to return the Carousel to its former glory. Forty layers of paint were scraped back to reveal the original colours. Each horse took around 300 hours to restore. All but 12 of the 36 horses are original but the two chariots are replicas based on American originals.

Every possible measure has been taken to ensure that the Carousel's integrity was maintained, including the importation of Coach wood from the USA, which was originally used to handcraft the horses. Such attention to detail has guaranteed the restoration has returned the Carousel to the most authentic and original condition possible.

The project called on the expertise of specialist historians, artists and crafts people from Australia and North America. The exquisite original art that adorns the Carousel boards was inspired by the Artherian legends.