Louisville company purchases assets of local distributor

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Louisville-based Bailey Tools & Supply Inc. said Tuesday that it has purchased the assets of Indianapolis distributor Capitol Drilling & Contractors Supply.

Terms of the deal were not disclosed.

Bailey, which sells professional-grade power tools, construction equipment, supplies and safety products, now has sales locations outside of Louisville in Evansville and Indianapolis.

Located on the northwest side, Capitol Drilling was founded in 1964. It sells, repairs and rents tools and equipment for diamond and abrasive cutting. The company has four employees, three of which were retained by Bailey.

The company has been acquired a few times since its inception. The current owner was Dennis Meyer.

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