Cryolipolysis does not reduce cellulite or tighten skin. It does reduce bulk due to fat however. There are some potential other treatments or surgery that can be done to address cellulite or excess skin.
Coolsculpting is a great procedure for fat removal, however not for skin tightening. In my office I choose to use VelaShape 3 and/or Ulthera to tighten lax skin. The preferred technique would be Ulthera, however the cost for the amount of energy required is often a barrier for patients.