CANTON – Coakley Carpet One Ace Hardware, the century-old family business on outer West Main Street, has been honored with a U.S. Small Business Administration regional award as Family Business of the Year.

Nominated by the Small Business Development Center at SUNY Canton, the hardware and decorating business won over other nominees in an area that includes New York, New Jersey, the U.S. Virgin Islands and Puerto Rico.

President Bill Coakley picked up the award this week at an event in Syracuse.

“We have a great team. That’s what we attribute our success to over the years,” Bill Coakley said.

He is among the third generation of Coakleys, with his brother Tom and sister Carol, running the business now, and the fourth generation is coming on, he said.

“We’ve been able to weather the storm of a down economy with our diversity,” he said.

“We are four businesses under one roof: Ace hardware, a kitchen and bathroom design center, carpet and flooring, and people that do home repairs, from whole remodels down to ‘honey-do’ lists. There’s synergy among the divisions.”

Coakley said another strength of the business is the commitment of the family and the rest of his team to the customers.

“What we hope, and what we hear, is that people sense the energy and spirit of a family business when they walk in.”