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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events  
Subsequent Events

Note 15. Subsequent Events

In July 2022, the Company completed the acquisition of Polar Expres based in Madrid, Spain, which provides temperature-controlled logistics solutions dedicated to the life sciences industry, for approximately $1.4 million. Polar Expres operates logistics centers in Madrid and Barcelona supporting the rapidly growing life science market. This acquisition further expands CRYOPDP’s footprint which enhances our existing global temperature-controlled supply chain capabilities and provides us with additional growth opportunities in the EMEA region. The agreement includes an earnout provision which is subject to and dependent on the business achieving 2024 and 2026 EBITDA targets as defined.

In July 2022, the Company also completed the acquisition of Cell Matters based in Liège, Belgium, which provides cryo-process optimization, cryoprocessing, and cryopreservation solutions to the life sciences industry, for approximately $4.0 million.