Sasser Family Holdings, Inc., which owns fleet management company Union Leasing, has been honored with the 2014 Illinois Family Business of the Year award.

The company was presented with the award by the Family Business Center at Loyola University Chicago's Quinlan School of Business, according to a release from the company. Sasser won in the large company category of the competition.

The winners will be celebrated at 6:30 p.m. on Nov. 12 at an awards gala at the Four Seasons Hotel in Chicago. In addition to Union Leasing, the company also owns Chicago Freight Car Leasing Co., CF Rail Services LLC, CF Asia Pacific Group PTY Ltd., NxGen Rail Services LLC., and Xcēd Aviation Services.